Thomas Lubik reviews how widely used macroeconomic data like GDP is compiled and updated, and how the revision process strikes a balance between decisionmakers' needs for timeliness and accuracy. Lubik is a senior advisor in the Research department of the Federal Reserve Bank of Richmond.

Pierre-Daniel Sarte and Sonya Waddell discuss the pricing data that the Federal Reserve Bank of Richmond gathers from its monthly surveys of regional business activity and how that data can be used to inform inflation forecasts. Sarte is a senior advisor and Waddell is a vice president and economist, both at the Richmond Fed.

Andy Bauer and Amy Liu discuss the direct and spillover economic effects of the recent reductions in federal employment and spending on the District of Columbia, Maryland, and Virginia. Bauer is a regional executive at the Federal Reserve Bank of Richmond and Liu is a non-resident senior fellow at the Brookings Institution and co-author of the DMV Monitor.