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SPF has been used in academic research on forecast accuracy and forecast bias. [4] [7] [8] A 1997 analysis of density forecasts of inflation made in the SPF finds: "The probability of a large negative inflation shock is generally overestimated, and in more recent years the probability of a large shock of either sign is overestimated.
The focus of the center has changed significantly since its inception. An official name change from the Bureau of Business Research to the Center for Business and Economic Research occurred in 2008. Currently, the center works in the community through services of economic policy research, national, state, and local forecasting, and data ...
The economic data published on FRED are widely reported in the media and play a key role in financial markets. In a 2012 Business Insider article titled "The Most Amazing Economics Website in the World", Joe Weisenthal quoted Paul Krugman as saying: "I think just about everyone doing short-order research — trying to make sense of economic issues in more or less real time — has become a ...
The federal statistical system is coordinated through the Office of Management and Budget (OMB). OMB establishes and enforces statistical policies and standards, ensures that resources are proposed for priority statistical programs, and approves statistical surveys conducted by the Federal government under the Paperwork Reduction Act. [6]
The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.
The United States Department of Commerce (DOC) is an executive department of the U.S. federal government. It is responsible for gathering data for business and governmental decision making, establishing industrial standards, catalyzing economic development, promoting foreign direct investment, and safeguarding national economic security.
Federal Reserve governor Lisa Cook said Monday it makes sense to lower interest rates more gradually given resilience in the job market and stickier-than-expected inflation, the latest central ...
The Office of Business Economics (OBE) was established in BFDC in 1945. In 1953, the BFDC was abolished and the OBE was designated a primary organization of the Department. In 1972, the OBE was redesignated the Bureau of Economic Analysis and assigned to the newly established Social and Economic Statistics Administration (SESA) in the Department.