Fed's Warsh plans to harness better economic data within a year

Fed Chair Kevin Warsh outlined an ambitious timeline to “discover” and begin using real-time economic data that he characterized as superior to problematic government reports. The announcement is process-focused rather than a direct rate or balance-sheet decision, but it could modestly influence expectations around how future Fed policy decisions are informed.

Analysis

Fed Chair Kevin Warsh outlined an ambitious timeline to “discover” and begin using real-time economic data that he characterized as superior to problematic government reports. The announcement is process-focused rather than a direct rate or balance-sheet decision, but it could modestly influence expectations around how future Fed policy decisions are informed.