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With an interest-rate hike already virtually set, the bigger news from the Federal Reserve is likely to be a hawkish signals from the central bank’s projections of future interest rate hikes, led by the so-called “dot plot,” economists said Friday.

Fed officials have penciled in three rate hikes in 2017, but that might move up to four.

“The risk of a hawkish surprise is substantial,” said James Sweeney, chief economist in fixed income research at Credit Suisse.

The Fed will meet for two days starting on Tuesday. It will release a statement on Wednesday along with new economic projections at 2 p.m. on Wednesday. Fed Chairwoman Janet Yellen will hold a press conference at 2:30 p.m.

Economists are more certain the median dots for 2018 and 2019 will move higher, indicating four hikes each year instead of three.

Reference: Market Watch

Read More: http://www.marketwatch.com/story/fed-expected-to-send-hawkish-signals-with-the-dot-plot-2017-03-10