2024-06-13 09:30:55 ET
Summary
- The Fed Funds rate remains unchanged at 5.25-5.50% for the seventh consecutive meeting.
- June Summary of Economic Projections shows significant upward adjustments in inflation and Fed Funds rate outlook.
- Market surprised by higher inflation projections, leading to Treasury yield volatility and Fed's commitment to return inflation to 2.0% goal.
Following the conclusion of the June 11-12 FOMC meeting, the Fed’s Statement disclosed that the Committee decided to keep the Fed Funds rate in the range of 5.25 – 5.50%, where it has been since last July.
This represents the seventh consecutive FOMC meeting with no change in the Fed Funds rate. There was no surprise that Fed Funds remained unchanged, as that was the overwhelming consensus estimate....
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The June Summary Of Economic Projections Shows A More Hawkish Fed