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Dario Perkins: FOMC forecasts changed little despite worsening downturn and lingering denial

Dario Perkins: FOMC forecasts changed little despite worsening downturn and lingering denial
FOMC changed forecasts slowly in downturn

Dario Perkins observed that transcripts show Federal Open Market Committee (FOMC) members made only incremental adjustments to their forecasts despite a steady flow of negative economic news.

Perkins highlighted that even five months into the downturn, then-chair Greenspan continued to deny the existence of a recession before conditions deteriorated rapidly.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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