Odaily Planet Daily News Clive Crook, a columnist for Bloomberg, suggests that, given the failed communication of the Federal Reserve at the recent December meeting, the review of the Fed's monetary policy framework should seriously consider the idea of eliminating the 'dot plot'. The Fed is about to begin a review of its 'monetary policy strategy, tools, and communication'. This month's interest rate cut and investors' reactions highlight the necessity of such a review. Clive Crook believes that one way to address this issue is to reform the economic projections summary, including the elimination of the 'dot plot' which forecasts future interest rates. The 'dot plot' has always been prone to misinterpretation, leading the Fed to repeatedly assert that the 'dot plot' is not a plan or commitment, but merely a forecast. In fact, it is not even a typical forecast, as it does not express a consensus: it is merely individual officials' self-assessed 'appropriate' predictions based on their differing, and possibly incompatible, beliefs about what will happen.