Why Cant Wall Street Economists Get Forecasts Right?

The video discusses the inaccuracies in market forecasts, particularly in predicting Fed rate hikes and 10-year yields. It highlights the impact of global economic policies, such as quantitative easing, on these forecasts. The discussion also covers the bond market dynamics, including the flight to quality and the role of central banks. The video concludes with insights into interest rates, capital availability, and the challenges of economic modeling.

What does the yellow line in the chart represent?

Why do people still listen to economists like Bob Michael despite the inaccuracies in forecasts?

What factors are contributing to the demand for bonds according to the speaker?

How has the perception of the Fed's actions changed over time according to the discussion?

What challenges do forecasters face in predicting economic conditions?