A 🧵on what Fed minutes won't tell you but FRB/US model baseline (also published by Fed, but quietly, after Feb 1 meeting) does. 1) the staff model revised down output gap. Now it falls to negative in 3Q 2023 (recession, anyone?) twitter.com/AnnaEco

Martin Sandbu @MESandbu · Feb 22, 2023

Very interesting thread about how central banks’ models are a bit bonkers (technical term)

Tweet Feb 22, 2023

by Anna Wong

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