February 12, 2020
Matthew Shapiro comments on the Fed’s use of privately produced economic data
Federal Reserve officials are increasing working with privately produced economic data, recognizing that it is nearly as accurate – and often more timely – than government reports. SRC director Matthew Shapiro says these data are important for measuring the state of the economy: “The quality of official statistics is going to deteriorate without help from big data.”
Read the New York Times article, How’s the Economy? Fed Increasingly Turns to Private Data