The Federal Reserve’s updated dot plot shows wide differences among 19 officials on 2025 rate cuts: 1 projects no cuts, 6 see a single 25 bps cut, 2 anticipate 50 bps in cuts, 9 favor 75 bps in cuts, and 1 supports a 150 bps reduction. These projections underscore internal divisions and highlight differing views on the pace of monetary policy easing.