WASHINGTON D.C. — In a move signaling a profound shift in economic forecasting, the Federal Reserve announced today that NBA All-Star Tyrese Haliburton’s annual March Madness bracket will be formally incorporated into its suite of leading economic indicators. The decision comes after years of informal observation, with Fed officials noting an uncanny correlation between Haliburton’s upset predictions and unexpected market fluctuations.

“For too long, we’ve relied on outdated metrics like consumer confidence and manufacturing output,” stated Fed Chair Jerome Powell in a press conference, adjusting his tie. “Mr. Haliburton’s intuitive grasp of underdog potential and bracket-busting chaos has proven to be a more reliable bellwether for the unpredictable nature of global markets than any econometric model we possess.”

Sources close to the Fed indicate that Haliburton’s choice of a dark horse team to reach the Sweet Sixteen will now directly influence interest rate decisions, while his Final Four selections could dictate the trajectory of the national GDP. “If Tyrese picks a 12-seed to go deep, we’re bracing for a recession,” explained Dr. Evelyn Reed, chief economic strategist for the Fed’s new 'Bracketology Bureau.' “Conversely, a chalky Final Four from him usually means stable growth. It’s remarkably precise.”

Haliburton, reached for comment between practice drills, expressed mild surprise. “I just pick teams I like, or whose mascots are cool. Sometimes I pick based on uniform colors,” he admitted. “I guess it’s good for the economy, though.”

The move is expected to simplify economic policy for millions, as analysts will now simply need to check ESPN.com instead of complex financial reports.