TRADERS TO SCRUTINIZE FED RATE-CUT PROJECTIONS Before the Fed's updated 2025 dot plot, it's worth recalling March projections: officials saw 1.7% GDP growth, 4.4% unemployment, and 2.7% PCE inflation in 2025, partly due to tariffs. They also expected two rate cuts in 2025 and two more in 2026. When the new forecast is released at 2:00 p.m. ET, rate-cut expectations will be a key focus for investors.