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Econbrowseranalysis

CRFB Tracks the Administration’s Forecasts So You Don’t Have To

Econbrowser
Thursday, November 12, 2026 at 7:15 PM
~4 min read
Fixed Income

Original Report

It’s not pretty (CRFB): Source: CRFB. Here’s my comparison, against WSJ, SPF, Hassett, from August (w/o MSR forecast): Figure 1: Reported GDP (bold black), Administration’s FY2027 Budget forecast,...

It’s not pretty (CRFB): Source: CRFB. Here’s my comparison, against WSJ, SPF, Hassett, from August (w/o MSR forecast): Figure 1: Reported GDP (bold black), Administration’s FY2027 Budget forecast, aka OMB-Treasury-CEA “Troika” (red squares), WSJ April survey mean (blue), SPF median forecast (pink), Hassett 5% growth in 2027 (teal triangle), . Source: BEA, WSJ April survey, […]

Glass House Analysis

Treasury market movements signal how investors view America's fiscal health and economic trajectory. Rising yields mean the government pays more to borrow, which eventually shows up in taxes or reduced services. For average Americans, this translates to higher mortgage rates, more expensive business loans, and a general tightening of financial conditions that makes everything from buying a home to starting a business more challenging.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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