TYNS - June Fed Meeting: Everything But A Rate Cut
Today's Federal Open Market Committee ((FOMC)) meeting was decisively and deliberately dovish. This was about as far as the U.S. Federal Reserve (the Fed) could have gone without actually cutting interest rates at the meeting's conclusion.
In the statement accompanying the meeting, the committee made a number of changes, including:
- Downgrading the characterization of growth from solid to moderate
- Noting business fixed investment is soft
- Stating that inflation expectations have declined
- Perhaps most importantly, noting that uncertainties have increased
Fed Chair Jerome Powell also prominently flagged these downside risks in the ensuing press conference. Ultimately,