HSBC analysts suggest that the FOMC will likely maintain the current target range for the federal funds rate at the March meeting, but the median “dots” could show the possibility of further rate increases. 

• “The Fed’s narrative on interest rates has been clear since the dovish pivot at the January FOMC meeting: monetary policy is currently in a good place, and the FOMC will remain patient in assessing the need for any further adjustments to the policy stance. The March FOMC meeting is therefore likely to reinforce this.”
• “The Summary of Economic Projections will be released at the same time and the median “dots” could show that further rate hikes are likely, although less so than in December.”