Reliably Bad Reliable Sources

"The Cleveland Fed’s Inflation Nowcast and the Chicago Mercantile Exchanges’s Fed Watch Tool are two of the most cited data-products in all of financial journalism. If you read financial journalism or track financial topics on Twitter, they are omnipresent sources.

You should trust neither. Both are obviously methodologically flawed and clearly inaccurate.

Their failures - and the failures of journalists to interrogate them - suggest serious problems with the information ecosystem around economics and finance."