After the Fed’s pivotal interest rate cut this week, policymakers face the question of how much further to reduce borrowing costs, and how fast.

Consumers and businesses alike can expect lower borrowing costs, but rates on both loans and savings accounts have already moved down in anticipation.

The Fed’s dot plot is a chart that records each Fed official’s projection for the central bank’s key short-term interest rate. The dot plot is updated every three months and is meant to provide insight into the Fed’s future rate decisions,