According to the narrow measure, shadow banking activity amounts to $ trillion (26 jurisdictions), while the OFI measure aggregates to $ trillion (20 jurisdictions and euro area) and the broad measure to $ trillion (20 jurisdictions and the euro area). 2  BIS central bankers’ speeches  often tradable on secondary markets.
As part of the enhanced projections process, FOMC participants provide a qualitative assessment of the magnitude of uncertainty surrounding their projections relative to average levels of uncertainty. As a benchmark for these qualitative assessments, the forecast narrative provides information about the average magnitude of projection errors of private and government forecasters over the past twenty years.