Fed Extends Economic Forecasts to Four Times a Year
Posted on Wed 14th Nov, 2007 10:15:13 AM
Today the Federal Reserve announced they will begin releasing economic projections four times a year from the current twice a year. On top of that the projections themselves will be for the upcoming three years instead of two.
This is a strong move by Bernanke as since he stepped into the head role in February 2006 he has worked to make the Fed more open.
New to the projection front will be the addition of forecasts of both overall inflation as well as “core” inflation, which is inlfation less food and energy prices.
More on this topic
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Why Economists Rarely Say Bad Things About the Fed
(naked capitalism, 9/10/09)
Guest Post: “Assessing the Recent Performance of the Fed”
(naked capitalism, 9/15/09)
Ron Paul: End The Fed
(Wealth Daily, 9/15/09)
The only drawback to this move that I can see is that the information relayed to the public may be more diluted AND that 3rd year they project probably won’t be nearly as accurate as people may expect. Given the state of the world economy and the US economy, anything goes in my mind
I think this is a benefit to all the small investors and the stock market in general. There always seem to be too much “I wonder what the Fed is thinking right now” guessing going on, imo. All Hail the Bearded One (Ben Bernanke)!