Nicholas Colas, co-founder of DataTrek Research, said the updated 2020 dot plot was the most eye-catching part of Wednesday's Fed report. “The standard deviation of their guesses is just 0.11 ...

So here's the current Fed dot plot. I do want to see where it was in December because there is a little bit of a change here. You previously had two dots that were closer to the 6% level.

Most notable in Wednesday's dot plot were forecasts that showed seven FOMC members see no change in 2025 rates, signaling a more hawkish stance compared to March when four officials saw no change.

The dot plot is updated every three months and is meant to provide insight into the Fed’s future rate decisions, with the caveat that Fed officials can’t always predict the future.

The March 2025 dot plot anticipated two 25-basis-point reductions this year, two more next year, and a last one in 2027, a rate that could reduce to the mid-3% zone by the end of 2026.