According to Odaily Planet Daily, the Fed's dot plot shows that among the 19 officials, one official believes there will be no interest rate cuts in 2025 (seven officials in June), six officials believe that the rate should be cut by 25 basis points in 2025, that is, one rate cut (two officials in June), two officials believe that the rate should be cut by 50 basis points in 2025, that is, two rate cuts (eight officials in June), and nine officials believe that the rate should be cut by 75 basis points in 2025, that is, three rate cuts (two officials in June). One official (most likely Milan) believes that the rate should be cut by a large amount of 150 basis points in 2025, that is, he believes that there will be at least two more large rate cuts (75 basis points + 50 basis points) this year. (Jinshi)