Too early for a preview of next week’s FOMC meeting? Nah ….. Dot plot expectations

• Yes,
  there will be a Summary of Economic Projections and a press
  conference by the Chair

What
to expect? Barclays have taken a survey on expectations on what the
median Fed dots will be at this meeting:

2018:

• Most (53%) believe the Fed will keep signalling three hikes for 2018
• More than a third expects the median dot to indicate four hikes

For
2019:

• Majority expects the dots to signal three additional hikes (ie, fed funds between 2.75-3.00%)
• 38% of respondents expect the median dot to remain at the current 2.63% for year-end 2019

2020:

• 85%
  expect the median dots to be in the 3.00-3.25% range