approach to model the forecasts of the Federal Open Market Committee over 1992-2019 and to forecast those forecasts themselves …. Monetary policy is forward-looking, and as part of the FOMC's effort toward transparency, the FOMC publishes its (forward …-looking) economic projections. The overall views on the economy of the FOMC participants-as characterized by the median of their …

Existing evidence suggests that the Federal Reserve forecasts of inflation imply asymmetric loss, as the Fed has … significantly over-predicted inflation for the post-Volcker period. Consistent with such evidence, we show that the Federal Reserve …

The main objective of this study is to assess the usefulness and rationality of the inflation and unemployment rate …