Inflation- or Lack Thereof West Texas Intermediate (( WTI )), which is used as a benchmark in oil pricing, fell to an 11-year low on Wednesday. DovishFed -Dot PlotsRevised Downward Following that decision, Fed chairman Janet Yellen's statement was generally dovish, placing a large emphasis on "gradual" rate hikes in the upcoming months. In contrast, at the September meeting, eight members thought the Fed would increase rates in excess of the median forecasts, indicating there has been a dovish tilt to these dots since then.