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Fed's deluge of dots and discord confuses markets

Moreover, data dependence has seen the US central bank's outlook change dramatically in just a few months

To steer investors, the Fed's main form of forward guidance is the median rate forecast in its dot plot. The median rate communicates an intended pace of hikes now, but not uncertainty around that outlook.


THE US Federal Reserve's decision next week on whether to raise interest rates is a vital issue for markets and investors around the world. Problem is, all the speeches, forecasts, meeting minutes, press conferences and media interviews given by Fed officials in the lead-up are...

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