Investment Updates
The Outlook For Investors
Published Friday, October 27, 2023 at: 7:41 PM EDT
Algorithms by staff economists at the two Federal Reserve district branches are forecasting twice the growth predicted by human experts.
Staff at the New York Federal Reserve District Branch and the Atlanta district branch both designed algorithms to predict the present growth rate of U.S. gross domestic product (GDP), and they are published on their websites. When the government releases employment, personal income or other components of GDP, the Atlanta Fed’s “GDPNow” algorithm, for example, updates its forecast to reflect the new data. Nowcasts for inflation and other key economic data are also sponsored by the Federal Reserve System.
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