The Fed's dot plot is overall more accommodative, with one official predicting a rate cut of 150 basis points within the year.

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On September 18, the Fed's dot plot showed that among the 19 officials, 1 official believes that there will be no rate cuts in 2025 (compared to 7 in June); 6 officials believe that there should be a cumulative rate cut of 25 basis points in 2025, which means 1 rate cut (compared to 2 in June); 2 officials believe that there should be a cumulative rate cut of 50 basis points in 2025, which means 2 rate cuts (compared to 8 in June); and 9 officials believe that there should be a cumulative rate cut of 75 basis points in 2025, which means 3 rate cuts (compared to 2 in June). One official (likely Milan) believes that there should be a significant rate cut of 150 basis points in 2025, indicating that there will be at least two significant rate cuts within the year. ( Jin10 )

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