Wednesday afternoon, the fate of global financial markets will hang on an array of dots that give clues into how much rate-cutting the Federal Reserve will deliver this year. But Wall Street may be putting too much weight on the so-called dot plot. Why it matters: The dots create a lot of market noise, but they contain less true signal about the policy outlook. State of play: The dot plot, released four times a year, sheds light on how the 19 top policymakers in the Fed system anticipate their interest rate policy evolving in the coming couple of years and in the long run. • The dots are anonymized, so we don't learn ... (full story)