The Federal Reserve earlier this week held interest rates steady after ten consecutive hikes, as widely anticipated. What market participants weren't expecting was the significantly hawkish projections in the central bank's updated dot plot, which signaled that two more rate hikes were likely. But markets are not buying it and the bulls have not been deterred, with Wall Street's benchmark S&P 500 (SP500) index recently reclaiming the 4,400 mark and scaling heights not seen since late April last year. Moreover, fed funds futures show only one more rate hike being priced in. Fed chair Jerome Powell in his post-decision press…