Federal Reserve publishes its first fan chart
New communication method aims to better convey uncertainty in forecasts
The US Federal Reserve has published fan charts for the first time in an effort to better convey the uncertainty in its forecasts.
Following the example set by a handful of other central banks, including the Bank of England, the Fed will now publish charts indicating the degree of uncertainty in its forecasts of GDP, unemployment and inflation. On March 3 it released example charts drawing on existing data from its summary of economic projections.
In addition to showing the dispersion of
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