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 Fed’s “dot plot” showed that the median forecast for rate cuts in 2025 was now a half-percentage point, lower than their September projections.

The Federal Reserve (Fed) is expected to cut interest rates on Wednesday for the third consecutive meeting.

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.