Dot Plot 

The Dot Plot is a summary of where the FOMC members see future interest rates. 

It's unanimous there will be no hikes this year. And by a 14-4 supermajority there will not be hikes in 2022.

In 2023, the expectations are 11-7. Two brave souls actually think the Fed will hike 4 times in 2023. [Note: a reader commented that foolish is a better word than brave. I agree.]

Longer Run Silliness

The longer run is a real hoot. A majority think rates will be 2.5% to 3.0%.

US National Debt is over $28 trillion. Click here to see a continually updated Debt Clock as in every second. 

Three Percent Interest On $28 Trillion

Three percent of $28 trillion is $840,000,000,000. That's $840 billion annually. 

Some debt will be long-term financed lower, but $28 trillion isn't constant.

And what about future recessions? 

These projections are nothing more than economic silliness. 

Three Related Articles

  1. Fed Commits to "Full Range of Tools" Seeks Inflation Above 2% "For Some Time"
  2. Inflation is Poised to Soar, 3% by June is "Almost Certain"
  3. Hello Jerome Powell We Have Questions

Repeated Error

Finally, please note Fed hubris. The Fed is Making the Same Inflation Mistake once again.

Mish