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.

The dot plot was invented in late 2011, at a time when Fed officials were considering how to prepare markets for the shift they hoped to make away from the unprecedented array of monetary support ...

However, the dot plot shows it was a pretty narrow decision between one and two quarter-point rate cuts. Out of the 19 members, four expected to hold the rate in its current range, seven projected ...

The Federal Reserve’s so-called dot plot hasn’t existed during a period when markets expected the central bank’s next move would be to cut rates, and not to raise them.

The dot plot showed a projected midpoint in the federal funds rate of 4.6% for 2024, suggesting the potential for three rate cuts from the previous midpoint of 5.4% at the end of 2023.