Persistent Overoptimism Three Ways: Truckers, Fed Economists, Manufacturers
MishTalk
NOVEMBER 20, 2015
Of course, there is also persistent overoptimism about earnings growth and stock market expectations. In November 2007, the Federal Open Market Committee began releasing projections for real GDP growth four times per year in its Summary of Economic Projections (SEP). The actual growth rate for 2008 turned out to be –2.8%—the
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