The latest batch of quarterly forecasts from the Federal Reserve showed policy makers have had a change of heart since June about the pace of interest rate cuts in 2024. The latest iteration of the Fed's "dot plot" penciled in two more quarter-point cuts before the end of the year,

Stocks closed lower and at session lows in the stock market today after the Federal Reserve decided to cut short-term interest rates by half a point.Please watch the video at Investors.com - Stocks Volatile After Big Fed Rate Cut;

"This would be the third time that stocks entered a cycle where annual returns compound at high teens," Fundstrat's Tom Lee said.