Fed Could Ditch Flawed ‘dots’ Rates Forecasts: Fisher
There are flaws in the published forecasts of individual Federal Reserve policymakers and the U.S. central bank should consider ditching them altogether, a top Fed policymaker said on Friday. Zeroing in on the so-called “dot chart” the central bank published quarterly, which show policymakers’ expected path of interest rates, Dallas Fed President Richard Fisher said they are largely the result of guesswork. Also problematic, he said, they reflect the views of policymakers who are coming and going.
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