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In contrast to the eight Greenbook forecasts a year the staff produce for Federal Open Market Committee (FOMC) meetings, our dataset has roughly weekly forecasts. We use these data to study whether the staff forecasts efficiently. Prespecified regressions of forecast errors on forecast revisions show the staff's GDP forecasts exhibit time\u2010varying inefficiency between FOMC meetings, and also show some evidence for inefficient inflation forecasts.<\/jats:p>","DOI":"10.1002\/jae.2938","type":"journal-article","created":{"date-parts":[[2022,9,2]],"date-time":"2022-09-02T23:20:50Z","timestamp":1662160850000},"page":"88-104","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":2,"title":["Raiders of the lost high\u2010frequency forecasts: New data and evidence on the efficiency of the Fed's forecasting"],"prefix":"10.1002","volume":"38","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-9769-789X","authenticated-orcid":false,"given":"Andrew C.","family":"Chang","sequence":"first","affiliation":[{"name":"Division of Research and Statistics, Board of Governors of the Federal Reserve System  Washington D.C USA"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Trace J.","family":"Levinson","sequence":"additional","affiliation":[{"name":"Division of Research and Statistics, Board of Governors of the Federal Reserve System  Washington D.C USA"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2022,11]]},"reference":[{"key":"e_1_2_9_2_1","doi-asserted-by":"publisher","DOI":"10.1111\/jmcb.12325"},{"key":"e_1_2_9_3_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.1538-4616.2008.00115.x"},{"key":"e_1_2_9_4_1","doi-asserted-by":"publisher","DOI":"10.1162\/rest_a_00826"},{"key":"e_1_2_9_5_1","unstructured":"Baum C. 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