FOMC Forecasts Is All the Information in the Central Tendency?
Federal Reserve policymakers began reporting their economic forecasts to Congress in 1979. These forecasts are important because they indicate what the Federal Open Market Committee members think will be the likely consequence of their policies. The Fed reports both the range (high and low) of the i...
Saved in:
| Corporate Author: | |
|---|---|
| Other Authors: | |
| Format: | Electronic |
| Language: | English |
| Published: |
Ann Arbor, Mich
Inter-university Consortium for Political and Social Research [distributor]
2003
|
| Edition: | 2003-06-25 |
| Series: | ICPSR (Series)
1287 |
| Subjects: | |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Federal Reserve policymakers began reporting their economic forecasts to Congress in 1979. These forecasts are important because they indicate what the Federal Open Market Committee members think will be the likely consequence of their policies. The Fed reports both the range (high and low) of the individual policymakers' forecasts and a truncated central tendency. The central tendency range omits outliers from both the top and the bottom of the full range. The author of this article finds, generally, that the forecasts derived from the full range are at least as good as those derived from the central tendency and, in a few cases, significantly better |
|---|---|
| Item Description: | Title from ICPSR DDI metadata of 2020-06-05 |
| Physical Description: | Also available as downloadable files |
| Format: | Mode of access: Intranet |
| Access: | AVAILABLE. This study is freely available to the general public |