Powell to lawmakers: Economic recovery still has a
long way to go
https://www.washingtonpost.com/us-policy/2021/02/23/powell-senate-stimulus/
It does not make sense in 2021 to assume that the Federal
Reserve has access to better or superior information about underlying economic conditions.
Frankly, real-time analysis and access to big data provide interested private parties with better access to information regarding short-term macroeconomic developments. Official
pronouncements by central bankers no longer offer superior info on current economic conditions. See for instance:
https://www.bloomberg.com/news/articles/2021-02-23/alternative-data-show-japan-leads-recovery-u-k-lags-chart
https://www.washingtonpost.com/us-policy/2021/02/23/powell-senate-stimulus/
https://www.bloomberg.com/news/articles/2021-02-23/alternative-data-show-japan-leads-recovery-u-k-lags-chart