Despite numerous lectures by Chairman Yellen about the proper interpretation of the dot plots, most talking heads still don’t get it. They insist on treating them as a promise of things to come ...

A dot plot or dot chart consists of data points plotted on a graph. The Federal Reserve uses dot plots to show its predicted interest rate outlook.

The Fed’s dot plot is a chart updated quarterly that records each Fed official’s projection for the central bank’s key short-term interest rate, the federal funds rate.