Remember the Fed's median dot plot
from June shows no change in the target rate this year, but a quarter point cut in 2020 that is reversed in 2021.
The Dot plot
shows the median Federal Funds rate at 2.1% in 2020 down from 2.6% in its March projections.
The Fed publishes a "dot plot
" showing year-end forecasts for the Fed's benchmark overnight lending rate, the federal funds rate.
The Fed's dot plot
will perhaps give a clearer scope for what could happen in the coming months.
Along with its interest rate decision, the FOMC also releases its dot plot
, a chart that shows the interest rate projections of the committee's voting members.
Timothy Fox, head of research and chief economist at Emirates NBD Research, said in note on Thursday that the Fed cut its growth and inflation forecasts and lowered the dot plot
to imply two increases in 2019 instead of three.
The Dollar has the potential to depreciate further if the line 'further gradual increase' is omitted from the statement and the dot plot
projections from September are revised lower from three to two for 2019.
In addition to its predictions for the economy, the Fed will update its "dot plot
," in which each member of its interest rate committee provides his or her anonymous forecast of where the Fed's key policy rate will be in coming years.
The Fed did not raise interest rates just for the sake of becoming hawkish or matching their dot plot
. In fact, the Fed turned hawkish because US economic growth has strengthened significantly.
The outcome of the Fed board meeting skewed slightly hawkish, and modest changes to the 'dot plot
' could be chalked up to data dependence.
In the United States, while the FOMC's 'dot plot
' suggests three more policy rate increases this year, there are risks around this.
(b) Representative dot plot
analysis of CD314 (NKG2D)+ cells among CD56+3- lymphocytes taken from term pregnancy by flow cytometry.