The big news last week was the Federal Open Market Committee (FOMC) statement on Wednesday, which removed the word "patient" and set the Fed up for potential 0.25% key interest rate cuts at its July and/or September FOMC meetings. Interestingly, the FOMC statement also acknowledged that there are "muted inflation pressures" and that "business fixed investment has been soft," which will cause the Fed "to act as appropriate." Seven of 17 FOMC members now forecast two 0.25% rate cuts, while eight FOMC members forecast just one 0.25% rate cut. Only St. Louis Fed President James