Faulty Forecasts

etch a sketchWith 17Q1 just about done, you would think macroeconomists would know what Q1 GDP growth will be, and you would be wrong! At one end, the Federal Reserve Bank of NY is estimating 3% annualized growth, while at the other end the Federal Reserve Bank of Atlanta is predicting just 1% growth. The average of 60 economists, right in the middle at 1.9%. The actual number will be known 6/29/17.

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