Bessent criticizes the Fed dot plot, saying he once specialized in contrarian trading

Besant also said: "The only reason I ever liked the dot plot was because when I ran my own investment business, we had a trading model specifically to trade against the dot plot, since the dot plot is always wrong." Besant expressed appreciation for Fed Chair Walsh's decision to remove forward guidance. Besant also mentioned that he has breakfast with Walsh every week, which is consistent with the routine when Powell was Fed Chair.