Wednesday, June 19, 2013

Would you buy a used recession from this guy?

The Fed released its projections of the future direction of the economy and some smarty pants at the WP did a graph of just how well they have done in the past.

There is an old joke in economics that says "economists have successfully projected 11 of the last 3 recessions" - it turns out that they are not much better at projecting recoveries.

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