I wish they would forecast rates for 6 months ahead and get rid of all of this apprehension involved in the rate setting conundrum!:nuts:
ECONOMIC PREVIEW
New Fed forecasts take center-stage
Wall Street, Fed watchers will try to read into the expanded numbers
By
Greg Robb, MarketWatch
Last Update: 9:00 AM ET Nov 18, 2007
WASHINGTON (MarketWatch) -- New projections from the Federal Reserve will take center-stage in the holiday-shortened week, economists said.
The forecasts will be included in the minutes of the Federal Open Market Committee's October meeting to be released Tuesday at 2:00 PM.
They are part of a step towards greater transparency announced by Fed Chief Ben Bernanke last week.
See full story.
The Fed said it would provide more-timely information about the evolving outlook by releasing its economic projections four times each year, rather than twice as done previously.
The forecasts will extend out to three years instead of two. Accompanying the forecasts will be a narrative that describes the risks.
Each FOMC member will present their own forecast for four indicators, real gross domestic product, the unemployment rate, and headline and core inflation as measured by the index of personal consumption expenditures or PCE.
The Fed will make a central tendency forecast by eliminating the three highest and three lowest forecasts.
Economists are looking forward to the information as eagerly as children wait for Christmas. But, like the kids, they are unsure of what will be under the tree.
Wall Street will immediately try to push the envelope on the forecast.
Fed watchers will try to surmise the Fed's forecast for growth over the next two quarters.
Recession on the mind [more]
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