The Fed Used Swipe Data To Assess Economic Impact Of Storms
PYMNTS
AUGUST 10, 2018
With the data, they were able to get information in real time that would have otherwise taken weeks, Bloomberg reported. And in Houston, spending tumbled by 75 percent from typical amounts. With this kind of information, the Fed was able to help determine how the big storms would impact economic growth in the third quarter of 2017.
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