June Fed Meeting: Dot Plot In Focus As Fed Holds Steady

Summary

• Federal Reserve policymakers have maintained a steady approach to interest rates over the last year, keeping the target range unchanged.
• This policy stance has been despite growing external pressure to move earlier than most believe necessary.
• Recent economic data supports the current policy approach, in my view.
• The FOMC concluded their June meeting with notable changes in their policy statement, as well as revisions to their closely watched "dot plot."

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The Federal Reserve (“Fed”) just concluded its two-day Federal Open Market Committee (“FOMC”) meeting for June, and the headline takeaways shouldn’t surprise.

The FOMC held steady on interest rates, keeping the range at 4.25% to 4.50%. In my view, this decision is

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