[well-known investor Erian: Fed's interest rates and economic forecasts are unrealistic] May 16, the median forecast released by Fed officials in March shows that policy makers expect interest rates to rise to 5.1% by the end of the year, and inflation will continue to decline. But Mohamed El-Erian, chairman of Gramercy Funds Management, is only skeptical. "my assessment of this Fed forecast is the same as my assessment of almost every forecast in the past few years: good wishes, but impractical," Mr Erian said. He added that US consumption was better than expected at a time when the global economy was weak, making it difficult to determine the appropriate level of interest rates and inflation. The Fed will update the bitmap at its policy meeting in June, but Mr Erian said the Fed always "confused" markets because it was "not enough" for policy makers to rely on data alone.