RCF congratulates Chief Economist Peter Bernstein on being recognized by the Federal Reserve Bank of Chicago for having the most accurate forecast of 2023 new vehicle sales among all participants in the Fed’s December 2022 survey. The award was presented at the 37th Annual Economic Outlook Symposium held in Chicago.
Mr. Bernstein bucked the Fed survey consensus that the economy would stall in 2023 and correctly predicted that the unemployment rate would be below 4% in 2023. Mr. Bernstein is also a participant in the Philadelphia Federal Reserve’s Survey of Professional Forecasters, presenting quarterly forecasts of macroeconomic variables.
