ChainCatcher message, the Federal Reserve's dot plot shows that among 19 officials, 4 officials believe there should be no rate cuts in 2025 (1 in December), 4 officials believe there should be a cumulative rate cut of 25 basis points in 2025, which means 1 rate cut (3 in December), 9 officials believe there should be a cumulative rate cut of 50 basis points in 2025, which means 2 rate cuts (10 in December), 2 officials believe there should be a cumulative rate cut of 75 basis points in 2025, which means 3 rate cuts (3 in December), no officials believe there should be a cumulative rate cut of 100 basis points in 2025 (1 in December), and no officials believe there should be a cumulative rate cut of 125 basis points in 2025 (1 in December).

ChainCatcher news, Atlanta Federal Reserve President and FOMC voting member Bostic stated that when he updated the Fed's dot plot in September, he expected the Fed to cut rates by only 25 basis points this year. However, he indicated that his forecast is not set in stone and he will adjust it as necessary based on upcoming inflation and employment market data. The Fed cut rates by 50 basis points in September and is expected to implement a series of rate cuts over the next year to alleviate some of the policy restrictions imposed to reduce inflation. (Jin Ten)

ChainCatcher news, Elmar Voelker, a senior fixed income analyst at Landesbank Baden-Württemberg (LBBW), said in a report that the new interest rate expectations, or dot plot, to be released by the Federal Reserve at next week's meeting are unlikely to align with the currently warming expectations for rate cuts. He stated, "Whether the forecast adjustments can keep pace with market expectations seems at least questionable." The same goes for the 2025 forecast.Voelker noted that the dot plot could become a "potential stumbling block for rising bond prices." The market speculates that the Federal Reserve may cut rates significantly by 50 basis points next week, but the bank's recent forecast only suggests a rate cut of 25 basis points this year. (Jin Shi)