Economics
Fed Blurs Intentions as Dots Drift Away From Economic Forecasts
- Move in Fed ‘dots’ contrasts with small changes in forecasts
- Yellen played down rate path change as ‘modest adjustment’
Emirates NBD's Pigat: Fed Dot Plots Are Complete Failure
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There was something odd in the projections that Federal Reserve officials issued last week.
Enough policy makers bumped up the number of interest-rate hikes they expected in 2017 to lift the median to three from two -- displayed graphically in the Fed’s so-called “dot-plot.” The Dec. 14 surprise, accompanying the Fed’s decision to raise rates for the first time in a year, pushed stocks off their record highs and lifted bond yields and the dollar.