FOMC Updates
FOMC Update - Sep 2025 (09/17/25)
As expected, the FOMC changed its benchmark rate range from 4.25%-4.50% to 4.00%-4.25% for the first time this year. The Fed projects an additional...
FOMC Update - Jul 2025
(07/30/2025)
As expected, the FOMC did not change its benchmark rate range from 4.25%-4.50% for the fifth consecutive meeting. The US economy grew at a better-than-expected pace of 3% in the second quarter. The Fed downgraded its assessment from...
FOMC Update - Jun 2025
(06/18/2025)
As expected, the FOMC did not change its benchmark rate range from 4.25%-4.50% for the fourth consecutive meeting. The Fed’s economic projections maintain 50bp of rate cuts in 2025. However, they raised their 2025 inflation projections to...
FOMC Update - May 2025
(05/07/2025)
Aligning with market consensus, the FOMC did not change its benchmark rate from 4.25%-4.50% for the third consecutive time. The Fed addresses “shifts in net exports” with no direct acknowledgement of the...
FOMC Update - Mar 2025
(03/19/2025)
As expected, the FOMC did not change its benchmark rate range from 4.25%–4.50%. The Fed’s updated economic projections indicate a 50bp rate cut by the end of 2025, bringing the federal funds rate to 3.88%. The median forecast for PCE inflation increased to...
FOMC Update - Jan 2025
(01/29/2025)
Aligning with market consensus, the FOMC did not change its benchmark rate range from 4.25%-4.50%. The Fed stated “inflation remains somewhat elevated,” revising their initial statement: “inflation has made progress toward the Committee’s 2% objective.” Meanwhile...
FOMC Update - Dec 2024
(12/18/2024)
As expected, the Fed lowered the benchmark rate by 25bp to a target range of 4.25%-4.50%, making the third rate cut in over four years. The Fed’s updated economic projections now show a 50bp rate cut in 2025 to 3.9% (from 3.4% in September). Additionally, the...
FOMC Update - Nov 2024
(11/07/2024)
As expected, the Fed lowered the benchmark rate by 25bp to a target range of 4.50%-4.75%, the second rate cut in the past four years. The Fed changed language on this statement to note...
FOMC Update - Sep 2024
(09/18/2024)
The Fed lowered the benchmark rate by 50bp to a target range of 4.75%-5.00%, the first rate cut in over four years. The Fed sees rates at 4.4% by the end of 2024, and 3.4% by the end of 2025. The FOMC statement released says that...

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