The chart of the week looks at the Federal Reserve’s, or the Fed’s, “Dot Plot”. This is each member’s expectations of where the federal funds rate will be in the future, with each represented by their own dot. As you can see, it is currently at its lowest value, 0-0.25%, but starting in 2022 members believe this rate will increase. This will be watched very closely going into 2022, as the Fed recently announced the start of their tapering by purchasing less bonds in the open market. This is expected to end near the middle of 2022 and could signal the start of interest rate hikes.