An upside surprise, a new Dot Plot, and a risk-on rally: 3 things to watch as markets brace for the last inflation report and Fed rate decision of 2022 ...

The Fed’s dot plot is a chart updated quarterly that records each Fed official’s projection for the central bank’s key short-term interest rate, the federal funds rate.

These predictions are commonly displayed via a dot plot where each dot represents a FOMC participant's prediction of the Fed Funds Rate at the end of each calendar year.