Fed's March Dot Plot - Higher for Longer?

Watching the upcoming March Fed meeting with a keen eye on the dot plot. Current market consensus seems to be pricing in a relatively dovish outlook for 2024 cuts, but I'm not so sure. Given the persistent inflation signals, even if slightly softer, and a resilient labor market, I think there's a good chance we see the median dot for year-end 2024 shift upwards, or at least remain sticky at the current level. If we see fewer than three cuts penciled in for 2024, which I'd put at about a 60% probability, the market will need to reprice, and that could introduce some volatility, particularly for rate-sensitive assets. My reasoning is simple: the Fed is still battling inflation, and they've shown they're willing to err on the side of caution. They'll need more convincing data to signal an aggressive easing cycle. I'm not expecting a hawkish shock, just a reality check that 'higher for longer' might actually mean longer.