Jointly Evaluating the Federal Reserve’s Forecasts of GDP Growth and Inflation

  • Edward N. Gamber, Tara M. Sinclair, +6 authors Roberto Sameniego
  • Published 2011


In this paper we jointly evaluate the Federal Reserve staff forecasts of U.S. real output growth and the inflation rate assuming the forecasts are to be used as inputs for the Taylor rule. Our simple methodology generates “policy forecast errors” which have a direct interpretation for the impact of forecast errors on the target interest rate given by the… (More)


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