Fed paper analyses impact of public views on FOMC forecasts

federal-reserve

A Federal Reserve working paper, published yesterday, analyses the weight ascribed by the Federal Open Market Committee (FOMC) to forecasts from within the Federal Reserve and those from members of the public.

The paper - Do central banks' forecasts take into account public opinion and views? By Ricardo Nunes - says the FOMC forecasts are influenced by the "Greenbook" forecasts produced by the Fed's staff, and also "take into account, or reflects, forecasts and views of the public and relevant

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