Optimal-control policies can depend critically on the exact specification of the model, and clearly there is no consensus about which model best describes the U.S. economy. 2  BIS Review 116/2007  Federal Reserve policymakers are shown several versions of Taylor rules in the material we receive before each meeting of the Federal Open Market Committee (FOMC).
For the first quarter in 2017, according to Eurostat’s preliminary flash estimate, the same quarterly growth rate of 0.5% can be expected. This suggests that the economic expansion is likely to have firmed and broadened in the first few months of this year.