Fed dot plot shows 9 of 18 officials see at least one rate hike in 2024, only 1 sees a cut

Nick Timiraos said the Fed communication turned more hawkish after its latest rate decision. The dot plot showed nine of 18 officials expect at least one hike this year, including six who see multiple hikes, while only one expects a cut. The policy statement was rewritten and shortened, signaling a shift in messaging.