Oil price assumptions for macroeconomic policy

We evaluate the economic usefulness of oil price forecasts by means conditional forecasting five US macroeconomic indicators. First, we forecast prices using a mixed sampling frequency framework, where are driven information available at high-frequency; and subsequently proceed with our forecasts. Overall, there is diminishing importance for inflation projections, whereas reverse holds true expectations, industrial production producers index. An array arguments presented as to why this might be case. Our findings remain robust alternative frameworks model specifications.