N.Y. Fed joins U.S. GDP forecasting game

The New York Federal Reserve will launch a weekly gauge of the U.S. economy at a time when investors are concerned about slowing overseas demand and wild swings across financial markets. The New York Fed is known for having an ear on Wall Street due to its role conducting daily market operations for the entire U.S. central bank system. It is unclear whether the bank's forecast model on gross domestic product will be more accurate than the Atlanta Fed's closely watched GDP model and top-tier econ