These charts plot the evolution of the Federal Reserve’s GDP forecasts for 2008-2010 (above) and 2011-2013 (below) vs actual results. Left vertical axis indicates GDP growth, right axis is trailing 12-month percentage change in the S&P 500. (Source: http://www.frbsf.org)
As you can see, your guess is as good as theirs. (Source: http://www.frbsf.org)
Bud’s Round-up of Daily Drivel:
- Interesting: Researchers at San Francisco Federal Reserve Bank say the Fed can’t forecast too well. (FRB of San Fran)
- Pinboard billionaire: Pinterest new $500mm financing round targets $11B valuation. (Wired)
- A-lister: Angie’s List (ticker ANGI) touch lower today after yesterday’s 60% increase on strong 4Q results. (thestreet.com)
- Hedgie Shack attack: Unsecured creditors accuse hedge fund of foul play in Radio Shack bankruptcy. (WSJ)
- US jobless claims fall more than expected. (Reuters)
- Nein: Germany rejects Greek request for loan extension. (The Guardian)
- Dropping the F-bomb on net neutrality: Mark Cuban attacks plan to regulate the internet. (re/code)
- All contributions welcome: The Clinton Foundation lifts restrictions on foreign government money. (Washington Post)
- The fox guards the henhouse: NFL official fired for trying to steal Deflategate football. (NBC Sports)
- Cheated: UNC whistle-blower’s new book exposes academic fraud in college sports. (Bloomberg)
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