The Fed loves a data buffet. What’s on the menu these days?
The Fed loves a data buffet. What’s on the menu these days?
- March 20, 2024
- Eric Swanson, economics, Marketplace, March 20, 2024 (Audio)
Certain private-sector data can also give the Fed a quicker read on the economy. Eric Swanson, an economics professor at the University of California, Irvine, said that early in the pandemic, when things were changing quickly, the Fed looked at online rent prices, anonymized cellphone location data and credit card transaction data. “Because consumer spending data comes out at the end of the next month, whereas credit card transaction data can come out within a day or two,” he said.
For the full story, please visit https://www.marketplace.org/2024/03/20/the-fed-loves-a-data-buffet-whats-on-the-menu-these-days/.
-----
Would you like to get more involved with the social sciences? Email us at communications@socsci.uci.edu to connect.
Share on:
Related News Items
- The Fed loves a data buffet. What's on the menu these days?
- Inflation is nearly back to 2%. So why isn't the Federal Reserve ready to cut rates?
- The impact of Federal Reserve policy on the Fed's financial conditions index
- U.S. government on brink of widespread shutdown
- The Fed pauses rate hikes again; no relief for housing market
connect with us