June FOMC Highlights and Market Impact

The Federal Open Market Committee, in a statement released after its two-day policy meeting, voted 8 to 0 to increase its fed funds rate by 25 basis points to a range of between 1.75% and 2.00%, as expected.

FOMC officials predicted a total of four rate increases for this year, which is up from a projection of three rate hikes at their March meeting.

The statement appears to be slightly hawkish on balance.

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