The Federal Reserve’s so-called dot plot, a chart showing where officials thought interest rates would go, looks like it will not survive a review of the...
Don’t bet on the survival of the Fed’s so-called dot plot, the central bank’s innovative approach to showing where central bankers expect interest rates to go if the economy performed as they expected.
Powell said the dot-plot often sent exactly the wrong message to financial markets, at the most critical junctures, about the future path of interest rates.“In times of high uncertainty, the median dot might best be thought of as the least unlikely outcome,” Powell said. The attitude of other Fed officials to the dot plot has been mixed over time. St. Louis Fed President James Bullard, for one, basically stopped adjusting his projections.
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