United States

Fed holds on policy and shares updated projections

WEEKLY MARKET COMMENTARY  | 

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As expected, the Federal Reserve (Fed) left interest rates unchanged at the zero bound. Additionally, Committee members unanimously supported expansion of the balance sheet with purchases of Treasuries, agency mortgage-backed securities (MBS) and agency commercial mortgage-backed securities (CMBS) to continue, at least at the current pace. During his post-meeting press conference, Fed Chair Jerome Powell noted some of the recent improving economic data, including the May jobs report, but also acknowledged the recovery will be a long road. Investors can expect continued accommodative monetary policy and should recognize the Fed’s willingness to employ necessary emergency tools to achieve the goals of 2 percent inflation and full employment.

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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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