Golden Finance reported that Adam Button, an analyst at financial website Forexlive: The median interest rate estimate for 2025 in the Federal Reserve's September economic forecast summary is 3.4%, lower than the 4.1% forecast in June. This situation is likely to be reversed in December. At least to some extent. The federal funds futures market expects interest rates to be at 3.84% by the end of 2025, almost exactly in preparation for two more rate cuts next year. One of them may take place at the March meeting, while the second may take place in July or September. It wouldn't be a shock if the Fed's median rate forecast remained unchanged or rose to levels in line with market pricing. If the dot plot showed just one further rate cut, it would be a hawkish surprise that would rattle the market.