Overoptimistic Official Economic Forecasts – Will They Ever Learn?

Former IMF official critiques the often over-optimistic economic growth forecasts put forth by the IMF:

http://www.project-syndicate.org/print/ashoka-mody-on-why-the-imf-s-growth-forecasts-keep-getting-it-wrong

A similar case can also be made regarding the Fed’s forecasts over the past five years

http://blogs.wsj.com/economics/2014/06/20/the-feds-never-ending-downward-growth-revisions/