re: Often-touted Atlanta Fed GDPNow projection has some bad news for 3Q

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That is a pretty large drop from one set of reports, makes it look like they just sin a wheel and guess.

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It actually dropped from 3% in the recent report. They are now in line with the average of the other forecasts, they just had a far more optimistic initial forecast, and that was same for the Q1 (2.5%) and Q2 (4.3%). Their initial estimates would have made for an average growth of about 3.4% compared to the actual average felt of 2.1%.

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like the CBO

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Actually I think it's essentially the opposite of the CBO. The CBO is bound to strict, essentially static, assumptions. So the CBO's estimates may be questionable, but I think the criticism is misplaced since they are bound by those assumptions that make estimates questionable.