We know that NCAA March Madness is capturing much of many peoples' attention this weekend and that there are few if any interesting funny sitcoms to entertain during the day. We certainly don't want to seriously disrupt the entertainment spectrum of the masses.
So here's a suggestion and a taste that should arrest your attention, the Fed's new dot-plot scheme. Read it and laugh. It's just might console some of your pain if your favorite team got bounced.
The "dot plot," part of the FOMC's Summary of Economic Projections released along with the policy decision statement, shows where each participant in the meeting thinks the fed funds rate should be at the end of the year for the next few years and in the longer run.
Each of the 17 members of the FOMC anonymously provides their predictions for the target fed funds rate at the end of this year, each of the next few years, and in the longer term. The Fed releases those predictions in a chart that includes a dot for each of the members at their target interest rate level for each time period.
You might find curious the use of the term anonymously. It looks as if anonymous covers a lot of ground. Some of you are no doubt feeling that way right now about your March Madness picks.
businessinsider.com/fed-dot-plot-march-2016.
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