The dot plot shows where the 17 Fed members expect the Fed Funds rate to be over the next few years and in the longer run. It’s always surprising to see how far off some of the Fed members can be on their predictions. Seven members think the Fed will cut twice this year, one believes they will cut once, eight think the Fed will leave rates unchanged, and one thinks the Fed will hike. Both Stocks and Bonds are reacting positively to the Fed statement, where they set the table for a cut in July.