Royal Bank of Canada: Fed's latest dot plot expected to suggest just two rate cuts in 2025
Royal Bank of Canada Capital Markets (RBC Capital Markets) said Federal Reserve officials updating their quarterly dot plot forecasts this week could suggest only two rate cuts next year, compared with four expected in September. The median Fed's September dot plot forecast implied a 100 basis point rate cut in 2024 and another 100 basis points in 2025. ‘Fed officials‘ speeches since the November meeting have pretty much locked in a 25 bps rate cut,’ Royal Bank of Canada's Blake Gwinn and Izaac Brook wrote in a report on Wednesday, ‘so the focus at this week's meeting will be primarily on the updated dot plot and Powell's speech.’
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