Fed’s Shift to Data Dependence Foreshadowed in 2010 ProjectionsBy
New York Fed’s ‘Blackbook’ projections show wide misses on GDP
Ex-research chief says lessons from forecasts were humbling
Federal Reserve Bank of New York economists struggled to offer accurate guidance to senior policy makers on the direction of the U.S. economy in the wake of the financial crisis and Great Recession, according to newly obtained records.
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