The Federal Reserve records and publishes large amounts of data. A few websites where data is published are at the Board of Governors Economic Data and Research page 1, the Board of Governors statistical releases and historical data page 2, and at the St. Louis Fed's FRED (Federal Reserve Economic Data) page 3. The Federal Open Market Committee (FOMC) examines many economic indicators prior to determining monetary policy 4.
Some criticism involves economic data compiled by the Fed. The Fed sponsors much of the monetary economics research in the U.S., and Lawrence H. White objects that this makes it less likely for researchers to publish findings challenging the status quo 5.