Nobody Knows Anything, Dot Plot Edition
The Big Picture
SEPTEMBER 22, 2023
I know of no better authority to cite than Federal Reserve Chairman Jerome Powell, from his June 16, 2021 presser : “The dots are not a great forecaster of future rate moves. When it comes to forecasting economic outcomes, the Fed is no better or worse than anybody else. And that’s not because—it’s just because it’s so highly uncertain.
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