Turkish paper finds Fed staff forecasts superior to rivals
Forecasts in the ‘Greenbook’ consistently more accurate than commercial equivalents, paper says
Forecasts produced by staff at the Federal Reserve's board of governors ahead of Federal Open Market Committee (FOMC) meetings have "consistently" outperformed their commercial equivalents, according to research published by the Central Bank of the Republic of Turkey today (November 17).
A week before each FOMC meeting the board staff compile and distribute a document entitled ‘Current Economic and Financial Conditions'. It is colloquially known as the ‘Greenbook'. Split into two parts, the
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