# Professor Kim Schoenholtz discusses the impact of the recession on economic forecasting

1 Faculty News December 7, 2016 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg_0.jpg?itok=qy2YlnxP)>

Excerpt from [Bloomberg](https://www.bloomberg.com/news/articles/2016-12-07/fed-s-shift-to-data-dependence-foreshadowed-in-2010-projections) -- "'The shock we went through was the largest since the Great Depression, and it was worldwide,' NYU’s [Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) said. 'The reality is even short-run forecasts became difficult.'"

[Read more](https://www.bloomberg.com/news/articles/2016-12-07/fed-s-shift-to-data-dependence-foreshadowed-in-2010-projections)