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Revised Fed "Dot Plot" And Downward Projections Confirm Economic Growth Capitulation
Here is the Fed's official admission not only the global, but the US economy is fast turning over.
First, the dot plot which dropped across the board...
... and the official forecast, the Fed cut unemployment forecasts once again, now seeing 5.0% unemployment at the end of 2015, and 4.8% unemployment from 2016 until 2018, even as it cuts its GDP and inflation forecasts across the board.
But the biggest joke: while 15 "forecasters" expected a first rate hike in 2015 back in June, now this number is down to 13. In other words, 13 expect a rate hike in either October or December despite the lousy economic data revisions.
Good luck.
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It's all Bullshit!!!
It kind of looks like a chicken trying to fly.
Is this ASCII Space Invaders?
From a distance they all look like peni's. Big, small, fat, thin. I guess we are fucked no matter what.
The dot plot looks like a game of Galaga.
Hey @Tyler, publish the next "historical view of the Fed predictions for the next quarter" charts. I want to see the contango in Fed optimism graphically represented again. :-)
It's fun to dream, but to think/believe that the un-fed will raise rates is prue fantasy.
2015 will pass in the rear view without an increase!
Then the bets will be on 2016.
The FED is no longer relevant. Their last pillar of relevancy was the ability to bullshit about raising rates. Now they don't even have the credibility to bullshit. They just unleashed the deflationary monster as everyone knows itr's ZIRP for the foreseeable future and all that's left is our tattered faux-economy with no demand because their are no jobs and everything costs to much. The overcapacity-of-everything will continue until prices adjust downward. This should happen all the more quickly as no one will even give a fuck about these FED dog and pony shows every few months. There's only cold hard data that shows that the prices of EVERYTHING must drop to un-seize the global economy. I'm actually pretty glad they didn't raise. It's gonna get us back to an actual "market" all the quicker.
First NIRP dot.... this is history kids.....
Damn ... that one plot looks like a penis.
It's actually a middle finger...
WHY does anyone give any credence whatsoever to their laughable graphs and charts based upon their past inaccuracy?
Putting the graph paper on a dartboard and throwing darts while blindfolded would be as useful.
Their economic theory is simplistic garbage, the too few data points they feed into the models based upon that simplistic garbage model are themselves manipulated garbage, so they get garbage squared as output.