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April 12, 2016 | Fed vs. Fed: New York Fed to Issue Its Own GDP Nowcast; Atlanta Fed Too Pessimistic?

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

It’s Fed vs. Fed in the Nowcasting business. The New York Fed has decided to issue a FRBNY Nowcast, clearly in competition with the Atlanta Fed GDPNow forecast.

The Atlanta Fed has the name GDPNow trademarked.

The Atlanta Fed provides its updates following major economic reports. In contrast, the New York Fed will deliver its version every Friday starting April 15.

We have a sneak peek of this Friday’s Fed vs. Fed battle already.

FRBNY Nowcast

NYFed GDPNow

GDPNow History

GDPnow 2016-04-08

The above from Sufficient Momentum (For a Recession).

Current Scorecard

  • Atlanta: 0.1
  • New York: 1.1

I commend the New York Fed for providing much needed entertainment value. Any other regions want to get in on the act?

Mike “Mish” Shedlock

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April 12th, 2016

Posted In: Mish Talk

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