United States

Federal Reserve holds, signals possible cut(s) at June meeting


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At the June Federal Open Market Committee (FOMC) meeting, the Federal Reserve left the target federal funds range unchanged, but the signal for more monetary policy accommodation strengthened. In contrast to the March announcement when no participants forecasted a rate cut, seven of the 17 FOMC participants now forecast two rate cuts by year-end (25 basis points each).

Despite their accommodative stance, Fed expectations continue to lag market-implied expectations. Federal funds futures priced in three rate cuts by year-end at the close of trading. In his press conference, Fed Chair Jerome Powell stressed the FOMC participants’ preference to take a patient approach to rate policy, citing mixed signals in economic, business and household data.

Information in this document was prepared by DiMeo Schneider & Associates, L.L.C. and although information in this document has been obtained from sources believed to be reliable, RSM US Wealth Management LLC, DiMeo Schneider & Associates, L.L.C. and their respective affiliates do not guarantee its accuracy, completeness or reliability and are not responsible or liable for any direct, indirect or consequential losses from its use. Any such information may be incomplete or condensed and is subject to change without notice. The Frontier EngineerTM is a registered trademark of DiMeo Schneider & Associates, L.L.C.

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