Howard Schneider

It's not a lack of data.

The Fed, just like all of us, we're drowning in data.

We're drowning in information.

The question is, is it representative of the country as a whole?

So one of the interesting things you get to do as a journalist is go out and learn about that and try to see if you can patch it together in ways that add, well, we can get goods prices from here.

We may have to turn over here to look at housing prices like the Zillow indexes or the Redfin indexes of the world.

I think the Fed is doing this too.