New York Fed Has Rosier GDP Than Atlanta in Battle of Forecasts
- Economy grew 1.1 percent, first release of NY model shows
- Atlanta's GDPNow much lower at 0.1 percent for first quarter
What Is the Fed Doing to the Markets?
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New York to Atlanta: Buck up, growth ain’t so bad.
The Federal Reserve Bank of New York, capitalizing on the popularity of the Atlanta regional bank’s growth forecasting tool “GDPNow,” introduced its own measure Tuesday that updates gross domestic product projections on a weekly basis. The aim is to consider the impact of a range of economic indicators in a timely fashion.