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Dot chart interpretation: Fed will cut interest rates by 50 basis points this year

The median of the Fed's dot plot shows that the Fed will cut interest rates by a cumulative 100 basis points in 2024, and there are 50 basis points of interest rate cuts expected after the 50 basis points cut in September. The Fed is expected to cut interest rates by another 100 basis points in 2025, the same amount as the rate cut expected in the dot plot in June.