Lies, damned lies and dot plots.
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.
"Mark Twain’s description of the three types of lies may be of use to bond investors looking to interpret the FOMC’s rate guidance – statistics can deceive," quipped the strategist. Read more
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