If you have to forecast, forecast often.

Yes — that quote is attributed to Edgar R. Fiedler, an American economist who served as Assistant Secretary of the Treasury for Economic Policy during the 1970s.

“If you have to forecast, forecast often.”
— Edgar R. Fiedler

Context and Meaning

This quote comes from Fiedler’s well-known essay “The Three Rs of Economic Forecasting — Irrational, Irrelevant, and Irreverent,” published in The American Statistician in 1977.

In it, Fiedler humorously explores the limitations and uncertainties of economic forecasting, pointing out that predictions are inherently fallible — so the best way to stay relevant is to update them frequently as new data arrives.

Interpretation

The line is both witty and practical:

• It underscores the uncertainty of economic models and the need for flexibility.

• It suggests that forecasting isn’t about being perfectly right, but about adapting and revising continuously as conditions change.

In essence, Fiedler reminds economists (and anyone making predictions) that humility, responsiveness, and iteration are the keys to staying credible.