Dot plot interpretation: One person thinks that interest rates should be lowered six times in 2026, while three people think they should be raised once.

In the median forecast of the Federal Reserve's dot plot, it shows that the Fed will cut interest rates once in 2026, once in 2027, and maintain the interest rate in 2028. Specifically, 3 individuals believe that there should be one rate hike in 2026, 4 individuals believe that the interest rate should remain unchanged in 2026, 4 individuals believe that there should be one rate cut in 2026, 4 individuals believe that there should be two rate cuts in 2026, 2 individuals believe that there should be three rate cuts in 2026, 1 individual believes that there should be four rate cuts in 2026, and 1 individual believes that there should be six rate cuts in 2026.