Last updated: October 7, 2026
These Terms of Use ("Terms") govern your access to and use of the website and services at msforecast.com (the "Service"), operated by Michael Krowicki, a sole proprietorship doing business as Macroeconomic State Forecast ("MSF," "we," "us," or "our"). By accessing or using the Service in any manner, you agree to be bound by these Terms and by our Privacy Policy. If you do not agree, you must not use the Service. We may modify these Terms at any time. The date at the top of this page shows the latest revision, and for material changes we will tell you by email or in the Service. Your continued use of the Service after a change means you accept the updated Terms.
MSF is a private, invite-only research and personal tracking platform. It currently includes:
Features may be added, changed, limited or removed at any time, including features that are labeled as new or in testing. Access to the Service, and to any feature, is restricted and may be granted, limited or revoked at our sole discretion.
All content, outputs, data, calculations, visualizations, alerts, emails and AI answers provided through the Service are for informational and educational purposes only. Nothing on the Service is investment, financial, trading, tax, accounting, legal or real estate advice, or a recommendation or solicitation to buy, sell or hold any security, asset, fund, property or financial instrument.
The analytical outputs are derived from statistical and quantitative methods applied to historical data. Historical patterns do not predict future results. Outputs may be incorrect, incomplete, delayed or unreliable, and the methods may not account for everything that affects markets or your situation.
Any decision you make based on the Service is made at your own risk and on your own judgment. Do your own research, and consult a qualified, licensed professional before making any investment, tax, real estate or financial decision.
MSF and its operators are not responsible for investment losses or other financial outcomes that result from your use of, or reliance on, anything provided through the Service.
Access is by invitation only. You must be at least 18 years old. You sign in with your Google account, and you are responsible for that account's security and for all activity under your sign-in. Tell us right away at michael@msforecast.com if you suspect unauthorized use. We may add, limit, suspend or remove access at any time, for any reason, with or without notice. If your access is removed, we keep your saved data so access can be restored, unless you ask us to delete it.
Subject to these Terms, we grant you a limited, non-exclusive, non-transferable, revocable license to use the Service for your personal, non-commercial informational and research purposes.
You agree not to:
All content, design, data compilations, software, models, methods and other materials that make up the Service are the property of MSF or its licensors and are protected by intellectual property laws. You receive no ownership interest in any part of the Service. You may not copy, modify, distribute, transmit, display, publish or create derivative works from any part of it without our express written permission.
You keep ownership of the content you enter, such as portfolio values, real estate inputs, strategies and watchlists. You give us a limited license to store, process and display it only to run the Service for you, including sending the summaries described in the Privacy Policy to our service providers when you use a feature that needs them. If you send us ideas or feedback, we may use them without payment or obligation to you.
Alerts and portfolio emails are optional and are never required to use the Service. You can turn them off on your Profile page. We may also send account emails, such as a welcome email when you are added and a test email when you request one. The owner may unsubscribe you from, or turn off, an email type for your account. We are not liable for emails that are late, filtered or not delivered for reasons outside our reasonable control, so do not rely on emails alone to make time-sensitive decisions.
The Service uses data from third parties, including the Federal Reserve Bank of St. Louis (FRED), the OECD, the Chicago Board Options Exchange and public market data sources, and depends on third-party providers for sign-in, hosting, databases, email and AI. This product uses the FRED API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. Some data series are owned by other parties and are shown for personal research only. We do not control or guarantee the accuracy, completeness or timeliness of third-party data or services, and they may change or stop at any time. Third-party services are governed by their own terms and privacy policies. Mentioning a third party is not an endorsement.
We do not promise that the Service, or any feature, will be available at any time or without interruption. We may change, suspend or discontinue any part of the Service, including scheduled data updates, models, alerts and AI features, at any time and for any reason.
THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMITTED BY LAW, MSF DISCLAIMS ALL WARRANTIES, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY AND NON-INFRINGEMENT.
WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, SECURE OR ERROR-FREE, THAT DATA WILL NOT BE LOST, OR THAT ANY MODEL, CALCULATION, ALERT, EMAIL OR AI ANSWER WILL BE ACCURATE, COMPLETE OR RELIABLE.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, MSF AND ITS OPERATORS, OFFICERS, EMPLOYEES AND AGENTS ARE NOT LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING LOSS OF PROFITS, LOSS OF DATA, INVESTMENT LOSSES OR DECISIONS MADE ON AI ANSWERS, ARISING OUT OF OR RELATED TO YOUR USE OF OR INABILITY TO USE THE SERVICE, EVEN IF WE WERE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. OUR TOTAL LIABILITY TO YOU WILL NOT EXCEED THE AMOUNT YOU PAID, IF ANY, TO ACCESS THE SERVICE IN THE TWELVE MONTHS BEFORE THE CLAIM.
You agree to indemnify, defend and hold harmless MSF and its operators, officers, employees and agents from claims, liabilities, damages, losses, costs and expenses, including reasonable legal fees, arising out of or connected with your use of the Service, your content, your violation of these Terms, or your violation of any right of another person.
We may suspend or end your access at any time. You may stop using the Service at any time and may ask us to delete your data as described in the Privacy Policy. Sections that by their nature should continue, including those on intellectual property, disclaimers, limits of liability, indemnification and governing law, continue after access ends.
These Terms are governed by the laws of the State of California, without regard to its conflict of law rules. Before starting a formal claim, you agree to contact us at michael@msforecast.com and try to resolve the issue informally for 30 days. Any dispute that is not resolved will be subject to the exclusive jurisdiction of the courts located in Santa Clara County, California.
If any part of these Terms is found invalid or unenforceable, the rest stays in effect, and the invalid part will be modified as little as needed to make it enforceable. Our failure to enforce a provision is not a waiver of it. You may not transfer your rights under these Terms. We may transfer ours. These Terms and the Privacy Policy are the entire agreement between you and MSF about the Service and replace any earlier communications about it.
MSF is operated by Michael Krowicki, a sole proprietorship, based in San Jose, California. For questions about these Terms, email michael@msforecast.com.