Economists' Short-Term Forecasts Miss Mark Despite Influencing Policy

Economists like El-Erian often make inaccurate short-term predictions about the economy, even though their forecasts influence policy.

The strong September jobs report defied expectations, showing the economy is more resilient than thought.

Market reactions to data often focus on the Fed's response rather than real economic impacts on workers.

Interim GDP projections from economists have proven unreliable compared to final government figures.

Wage growth remaining steady despite job gains suggests the labor market is not overheated, contrary to some predictions.