Policy Rate Hike: Down With The Dots, Says IMF

The IMF ruffled feathers at the beginning of the month when managing director Christine Lagarde suggested that the Federal Reserve should wait until 2016 for the first policy rate hike, the sort of unwelcome advice usually reserved for debtor countries. Now it’s telling the Fed that it should get rid of the dots (those Galaga looking charts that come out after every meeting) because they are confusing and can be misinterpreted. “The data on the individual forecasts of FOMC members currently released allow for varied interpretations—it is not straightforward to connect the dots to get a coherent vision of the…