New York Fed jumps on the weekly GDP forecast train

Hot news from the New York Fed

Starting this Friday the NY Fed will be publishing a weekly outlook on US GDP growth.

It's also thrown out some numbers of 1.1% GDP for Q1 and 1.9% in Q2, as of analysis dated 8 April.

First the Atlanta Fed brought us GDPNow and now the NY Fed has GDPWow (I might have made that up).

Data dependence goes to a new level.

Update: It's going to be called the FRBNY Nowcast :-D