lagged consensus forecast about the period being forecast. We find that all three biases are present in the Survey of … forecast to form expectations is a reasonable thing to do if a forecaster is not able to come up with fully rational …

lagged consensus forecast about the period being forecast. We find that all three biases are present in the Survey of … forecast to form expectations is a rather smart thing to do if cognitive limitations and biases cause any attempt to build an … own rational forecast to fail. …

, introducing slack into models estimated using headline PCE inflation data or conventional core inflation data causes forecast …