Economics
HSBC: The Fed's Dot Plot Is Destructively Deceptive
Lies, damned lies and dot plots.
Dot-watching at the Fed.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The Federal Reserve's economic forecasts and much discussed dot plot might be a source of more confusion than clarity, according to HSBC Strategist Lawrence Dyer.
The central bank's Summary of Economic Projections haven't proven too accurate -- but that's not the primary basis of his gripe. Rather, Dyer has a more fundamental qualm with the assumptions underlying the construction of the numbers as well as how they are interpreted and reported.