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The Fed maintains 2016 rate forecast, cuts projections for 2017

Janet Yellen, chair of the U.S. Federal Reserve, waits for a question during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C.
Andrew Harrer | Bloomberg | Getty Images
Janet Yellen, chair of the U.S. Federal Reserve, waits for a question during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C.

While the Fed still sees rates at 0.9 percent by the end of 2016, it is now looking for the funds rate to rise to 1.6 percent in 2017, as opposed to the 1.9 percent estimate in March.

The targets for appropriate federal funds rates by FOMC participants is plotted in a chart that has come to be known as the "dot plot."

Here are the Fed's latest June targets, released in Wednesday's statement:


This is how it looked in March