Since the dawn of econometric forecasting, there have been six recessions (or seven if you count the double-dip 80-82 recession as two).
FORBES: The Economic Forecasts are Wrong, Which is Probably Good News
The Federal Reserve has some make that many of the best economists in the world who are capable of doing the most sophisticated statistical and econometric studies and using the most sophisticated models for forecasting.
FORBES: What's Choking Bank Lending?
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