• The Fed Report: June 2024

    • At its June meeting, the FOMC voted unanimously to maintain the target range for the Federal Funds Rate at 5.25-5.50% for the seventh consecutive meeting.
    • As expected, the Fed maintained its measured and economic data-dependent approach to monetary policy.
    • Economic data reports to be issued prior to the next Fed meeting on July 30-31 could provide the Fed the confidence it is seeking that inflation is sufficiently contained. A rate cut in September could be possible if inflation data continues to trend lower and the labor market continues to move into better balance.
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