Fed Cuts by 25, Dot Plot Up, Inflation Forecast Up

2:15 p.m. ET The Fed cut by 25 bp with 1 dissent. Cleveland’s Hammack preferred to leave the FFR where it is. It looks like market pricing got it right as the Fed’s 2025 Dot-Plot moved Up by 50 basis points, projecting a shallower path of rate cuts for 2025. 2025 – 3.875%, up 50bps from…