Fed Study Shows "Persistent Fed Overoptimism about Economic Growth"; What Will They Do About It?
MishTalk
FEBRUARY 2, 2015
In an attempt to explain, a new Federal Reserve Bank of San Francisco dives into the Persistent Overoptimism about Economic Growth. In a cross-country study of private-sector forecasts from 1989 to 1998, Loungani (2001) finds that “ the record of failure to predict recessions is virtually unblemished. ” A study by Alessi, et al.
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