EGF - Fed Watch: At The Midway Point

2024-06-12 23:35:00 ET

Summary

• The Federal Reserve (Fed) kept rates unchanged at the June Federal Open Market Committee (FOMC) meeting, marking the seventh consecutive meeting with no action on the rate front.
• The Fed’s revised outlook now projects one rate cut for this year, down from the previous projection of three.
• The Fed’s decision-making is primarily driven by monthly inflation reports and labor market data, and renewed progress on inflation is necessary for the Fed to feel comfortable enough to begin the rate cutting process.

By Kevin Flanagan

Once again, the Fed kept rates unchanged at the June FOMC meeting. As a result, the Fed Funds trading range remains in the 5.25%-5.50% band that was introduced in July last year, and still resides at a more than 20-year high-water mark....

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