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Extra!How Often Are Fed Forecasts Wrong? Pretty Often

Jason Farrell

Bernanke didn’t say anything surprising today. He rarely does. His job is to babysit fussy investors and deflect inquiries from his incompetent congressional overseers, being as obtuse as possible over the details. You may want to keep in mind, however, that this particular central bank has been wrong about its GDP forecasts for much of the last decade.