The staff’s core, large-scale structural model has been dubbed FRB/US - pronounced “ferbus.” But that model is not the only one the staff uses. Indeed, the staff uses its suite of smaller-scale models to probe the vulnerabilities of the core model.
But as seductive as modeling is to us economists, we must remember that no model can fully capture a dynamic, ever-evolving economy such as ours. Thus, the staff’s forecast, and I’m sure the individual forecasts of each FOMC member, are in the end judgmental assessments.