The Federal Reserve is convening for its two-day FOMC (Federal Open Market Committee) meeting on Tuesday. While officials are expected to hold interest rates where they are, investors will be watching the monetary policy outlook and how many rate cuts could be projected in the remainder of 2024.

Yahoo Finance Senior Reporter Jennifer Schonberger explains the details of the Fed's "dot plot" and how it is viewing recent inflation data ahead of Chair Jerome Powell's press conference on Wednesday, June 12.

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This post was written by Luke Carberry Mogan.