In its recent statement following the September FOMC meeting, the Federal Reserve has signaled significant changes to its monetary policy outlook. The latest dot plot indicates that the central bank plans to implement two additional interest rate cuts in 2024, following a substantial 50 basis-point reduction. The median projection for the federal funds rate by the end of 2024 has been lowered to 4.4%. Furthermore, Fed officials anticipate higher unemployment and lower inflation compared to their forecasts from three months ago. As part of their updated economic projections, the Fed forecasts a further half-point rate reduction before the year concludes. Market expectations have also shifted, with futures indicating an implied reduction of 76 basis points by the end of 2024.