The Federal Reserve's dot plot shows that the federal funds rate is expected to be 5.1% at the end of 2024 and 4.6% in March; the federal funds rate is expected to be 4.1% at the end of 2025 and 3.9% in March; the federal funds rate is expected to be 3.1% at the end of 2026 and 3.1% in March; the long-term federal funds rate is expected to be 2.8% and 2.6% in March.