What You Tweet Might Tell Janet Yellen It’s Time to Raise Rates

Your Google search or a tweet about your job is part of a vast trove of private economic information that might help Federal Reserve Chair Janet Yellen and her colleagues get a more complete picture of where the economy is headed.

Economists at the Fed are looking into whether non-traditional data could improve the accuracy and timeliness of the forecasts they put before monetary-policy decision makers about every six weeks. First, though, they want to be satisfied about the quality and reliability of the information.