Therefore we often review alternative scenarios that may reflect different ways in which the economy may respond in a variety of situations. After the economists' reports, we turn to the presidents and governors. Typically the presidents report first on regional economic developments as well as on their independent views on the national economy.
Not surprisingly, economists from the Banks and the Board largely agree, but occasionally discernable differences exist, particularly with respect to economic forecasts. The presidents' reports often include anecdotal updates from businesses or other sources to provide real-time information on regional economic activity. 2  BIS Review 26/2004  Following the presidents' presentations, the Fed governors provide their individual analyses.