This morning (PST) all three major US indices are in the green following slew of economic data. Yesterday, the Federal Reserve decided to keep the interest rates unchanged but mentioned that they may (as opposed to certainly) have to raise rates in later FOMC meetings this year. Current projections suggests terminal rate 0.5% above current rate so there seems to be a possibility of 0.25% rate hike in 2 out 4 remaining FOMC meetings this year. Chairman mentioned that full effects of monetary tightening are yet to be felt in the economy and that they had not yet made the interest rate decision for the July meeting. The decision would of course depend on the state of the economy and inflation. This is mostly expected if you are looking at the economic data. This morning, May retail numbers showed a rise that was more than expected. Last week's jobless claim remained unchanged and were above estimates. So, basically, the economy appears to be in a good shape and Feds seem to be on a path of "soft landing" albeit it remains to be seen how this ends.
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