"By the time the preliminary estimate of 1st quarter Gross Domestic Product
(GDP) is released on Thursday, it will mostly be old news," says former Federal
Reserve economist and Hamilton economics professor Ann Owen. "While some
revisions from the advance estimates released last month are likely, this
information is only useful if it gives us a hint of where the economy may be
going in the 3rd quarter.
"Large revisions may cause policy makers and markets to reevaluate current predictions. A particularly useful part of this release for the Fed is the estimate of inflation derived from personal consumption expenditures. However, the April CPI that was released earlier this month contains more recent information," concludes Owen.
Owen, who earned her doctorate at Brown University, has diverse research interests and has published several papers on long-run growth and income distribution. Her current research projects examine the effects of international trade on health, savings behavior, and how economic growth affects attitudes towards women in both developed and developing economies. She also serves as director of the Arthur Levitt Public Affairs Center at Hamilton College and is a board member for the Committee on the Status of Women in the Economics Profession.
"Large revisions may cause policy makers and markets to reevaluate current predictions. A particularly useful part of this release for the Fed is the estimate of inflation derived from personal consumption expenditures. However, the April CPI that was released earlier this month contains more recent information," concludes Owen.
Owen, who earned her doctorate at Brown University, has diverse research interests and has published several papers on long-run growth and income distribution. Her current research projects examine the effects of international trade on health, savings behavior, and how economic growth affects attitudes towards women in both developed and developing economies. She also serves as director of the Arthur Levitt Public Affairs Center at Hamilton College and is a board member for the Committee on the Status of Women in the Economics Profession.
