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Fed Chair Walsh Plans to Adopt Real-Time Economic Data Within 9-12 Months

GateNews
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Fed Chair Kevin Walsh announced plans to shift the Federal Reserve's decision-making process within 9-12 months, moving away from government data he described as "problematic" and adopting real-time economic information instead. Speaking at a monetary policy forum in Portugal, Walsh stated the Fed aims to leverage new technology to gain synchronous, real-time insights into the real economy. "My ideal data is data from what is happening right now," Walsh said, noting the current government reports contain statistical biases and outdated survey content. The central bank intends to develop alternative data sources to make better policy decisions within the next year.
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