Thursday, May 7, 2009

The Fed Can't Forecast Baseball Accurately, Either

As I have pointed out several times, the Federal Reserve had no clue about the housing boom. They aren't any better at forecasting baseball either. From WSJ:

At the last FOMC meeting of 2003, Fed Chairman Alan Greenspan was dismissing some widely held views about outsourcing, saying people often believe things that aren’t true.

Boston Fed President Cathy Minehan added the Boston Red Sox winning the World Series as an impossible idea that people believe in.
The Red Sox won the World Series 10 months later.

1 comment:

  1. LOL! Is there any wonder people are buying gold?