Macroeconomics is a pseudoscience, like astrology. It’s time for everyone to start pointing and jeering.https://twitter.com/hbdchick/status/845776954594938880 …
I suppose these series would be the ones to evaluate? Had that been done?
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whoops, this tweet was meant to point to https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20161214.pdf …
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don't know about these specific forecasts, tbh
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my impression is Fed has been predicting “return to normal in 1-2 years” for ~7 years, and wrong throughout.
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but I don’t follow this closely.
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