Increased interest rates and other economic news in June
MONTHLY MARKET COMMENTARY |
The Federal Reserve increased their target range for interest rates by 25 basis points to a range of 1.75 percent to 2 percent. The move comes as personal consumption expenditures, excluding food and energy, rose to 2 percent, in line with the Fed’s stated target. This is the first time that the core inflation measure has reached 2 percent since April 2012.
The European Central Bank’s governing council outlined plans to end the bond buying program similar to the U.S. quantitative easing program. They said they plan to end net asset purchases by the end of the year.