Each meeting, the FOMC creates an outlook for the Fed Funds rate called the “Dot Plot” denoting their projection for future interest rates in subsequent years. Over the past year, their forecasts for the future have changed dramatically. Even the best and brightest can't predict the market. What do we make of this?

Inflation is higher than it’s been in quite a while and everyone reading this is seeing price increases around them.

But what should we make of that information? As usual, it helps to consider current events in a historical context to discover informative insights.

At its March 15–16 Federal Open Market Committee (FOMC) meeting, the U.S. Federal Reserve raised its federal target funds rate by a quarter-point. It was the first increase since December 2018, but it wasn’t a huge surprise. What does this mean and how will it impact the economy?