1 PHILADELPHIA FED FORECASTING SURVEYS: THEIR VALUE FOR

The two forecasting surveys conducted by the Federal Reserve Bank of Philadelphia, the Livingston Survey and the Survey of Professional Forecasters, provide a long track record of macroeconomic forecasts. Over many decades, they have provided not only timely information for policymakers and other economic analysts, but they have also been used to answer numerous research questions. This article describes the surveys and highlights some of the major ways the survey has been used by researchers.