Expect a dovish statement from the Federal Reserve on Wednesday, especially when it comes to the number of rate hikes it expects in 2016. ‘The likelihood is that the Fed will slightly guide lower on their dot plot suggested a slightly slower pace of rate hikes this year,’ said Jasper Lawler, a market analyst with CMC Markets in London. Back in December, the Fed’s dot plot suggested four rate hikes in 2016, a rather hawkish forecast. The spat of markets volatility since the start of the year and fears of a global recession is expected to illuminate the Fed’s dovish side, just three months to the day after raising short-term interest rates for the first time in nearly a decade. Lawler does not expect the central bank to announce a rate hike on Wednesday. TheStreet’s Scott Gamm reports from Wall Street.