William V. Rapp wins Chicago Fed Award for Best GDP Forecast

Written by: Christina Crovetto
William V. Rapp, Henry J. Leir Professor of International Trade and Business at NJIT's Martin Tuchman School of Management
William V. Rapp, Henry J. Leir Professor of International Trade and Business at NJIT's Martin Tuchman School of Management, received an award from the Federal Reserve Bank of Chicago for best GDP forecast as well as in the categories of oil prices and housing starts.

"From my perspective, the most amazing thing is not only winning the award, but that my forecast was based largely on intuition and a calculator and yet I beat those using sophisticated computer models and large data sets," Rapp noted.