TD Securities: Amid Middle East conflict, the market is focusing more on the next three years' dot plot projections

Golden Ten Data reported on March 19 that Molly Brooks, U.S. rate strategist at TD Securities, stated that the market reaction depends on Powell's press conference, as the policy statement and the updated Summary of Economic Projections "did not provide much new information." This update also slightly raised the long-term federal funds forecast to 3.1%. Brooks said, "Given the uncertainty of the short-term impact caused by the Middle East conflict, the market is more focused on the median forecasts in the dot plot for 2026, 2027, and 2028, which remain unchanged, rather than the long-term interest rate forecasts."