See, for example, Sargent (1982), Croushore (1992), Goodfriend and King (2005), and Tetlow (2022) for a comparison of the cost of disinflation across macroeconomic forecasting models. 3 See the definition for "track" at https://www.merriam-webster.com/dictionary/on%  20track.
4 The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices  (SLOOS) shows that banks, especially small and midsize banks, reported further tightening in credit standards on loans to businesses and households over the past three months, following widespread tightening in previous quarters. The April 2023 SLOOS is available on the Board's website at https://www.federalreserve.gov/data/sloos /sloos-202304.htm.