When replying to my queries about why the Fed uses EViews on laptops instead of serious software on serious hardware, I was told that computational power had risen to the point where efficiency was not an issue.
However, on another occasion, the lack of computational resources was used (by a Fed-affiliated economist) as an excuse for the poor performance of macroeconomists’ ability to anticipate the problems of the Great Recession.
Nice to see that on this issue there is someone affiliated with the Fed with the correct opinion. Of course, this is not surprising given that there are so many economists at or affiliated with the Fed, and the number of opinions per economist often exceeds one.