Fed dot plot for 2026: 1 participant expects three hikes (March: 0), 5 expect
two hikes (March: 0), 3 expect one hike (March: 0), 8 expect rates unchanged
(March: 7), 1 expects one cut (March: 7), 0 expect two cuts (March: 2), 0 expect
three cuts (March: 2), 0 expect four cuts (March: 1). Overall, supporters of
2026 rate increases rose to 9 participants — including one who favors an
aggressive 75bp tightening — while supporters of cuts fell to 1.
