Fed Study Shows "Persistent Fed Overoptimism about Economic Growth"; What Will They Do About It?
MishTalk
FEBRUARY 2, 2015
Since 2007, Federal Open Market Committee participants have been persistently too optimistic about future U.S. 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. ” economic growth. This is a general statement.
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