Items include
FOMC
Economic Indicators
Jun 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 3% (up from...
Jan 31, 2024
As expected, the FOMC did not change its benchmark rate range from 5.25%-5.50% for the fourth consecutive meeting. The Fed implied they are done raising rates, however they are not ready to start cutting rates at the next meeting. The...
Mar 20, 2024
As expected, the FOMC did not change its benchmark rate range from 5.25%-5.50% for the fifth consecutive meeting. The Fed’s updated economic projections maintain 75bps of rate cuts in 2024. However, the 2025 rate cut projections were reduced to 75bps...
May 1, 2024
As anticipated, the FOMC did not change its benchmark rate range from 5.25%-5.50% for the sixth consecutive meeting. The Fed stated “there has been a lack of further progress toward the Committee’s 2% inflation objective”, implying they will remain on...
Jun 12, 2024
As expected, the FOMC did not change its benchmark rate range from 5.25%-5.50% for the seventh consecutive meeting. The Fed also updated rate cut projections for 2024 from 75bp to 25bp, and increased 2025 rate cut projections from 75bp to...
Jul 31, 2024
As expected, the FOMC did not change its benchmark rate range from 5.25%-5.50% for the eighth consecutive meeting. According to the statement, upside risks to inflation have decreased as the labor market has softened, and it noted that careful monitoring...
Sep 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....
Nov 7, 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 “labor market conditions have generally eased,”...
Dec 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%...
Jan 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, revisions were made to...
Mar 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...
May 7, 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 first negative real GDP print since 2022. The...
Sep 20, 2023
As expected, the FOMC did not change its benchmark rate range from 5.25%-5.50%. The Fed maintained its projections for one more 25bp hike this year, however lowered its rate cuts from 1.00% to 0.50% for 2024, which implies rates are...
Jul 26, 2023
As expected, the FOMC raised its benchmark rate by 25bp to a new range of 5.25%-5.50%, the highest fed funds rate level in 22Ys. This marks the 11th rate hike since the Fed began hiking in March 2022, when the...
Jun 14, 2023
As expected, the FOMC did not change its benchmark rate range from 5.00%-5.25%. This is the first pause since the Federal Reserve began hiking in March 2022. The updated forecast projects two more rate hikes this year, toping out at...
Feb 1, 2023
As expected, the FOMC raised its benchmark rate by 25bp to a new range of 4.50% - 4.75%. This 25bp hike marks a step down from the December 50bp hike and from the four straight 75bp increases before that. Inflation...
Dec 14, 2022
As expected, the FOMC raised its benchmark rate by 50bp to a new range of 4.25%-4.50%. Further increases are expected in 2023 with the benchmark rate projected to rise to 5.10% while tapering off in 2024, 2025, and in the...
Nov 2, 2022
In a unanimous decision, the FOMC raised its benchmark interest rate by 75bp for the fourth consecutive time to a new rate range of 3.75%-4.00%, For the year, cumulative tightening stands at 375bp, the most in one year since 1980....
Sep 21, 2022
The FOMC raised its benchmark interest rate by 75 basis points for the third consecutive time to a new rate range of 3.00%-3.25%, the highest since before the 2008 financial crisis. The FOMC reiterated that “ongoing increases in the target...
Jul 27, 2022
In a unanimous decision, the FOMC raised its benchmark interest rate by 0.75% in what are now back-to-back 75bps rate hikes. Aside from last month's 75bps hike, November 1994 was the last time a hike of this size occurred. That...
Jun 15, 2022
The FOMC raised its benchmark interest rate by 75bps to a new target range of 1.50%-1.75%. This is the first 75bps increase since 1994. The Fed plans to continue to reduce its balance sheet by $47.5 billion a month, as...
May 4, 2022
The FOMC raised its benchmark interest rate by 0.50% for the first time since 2000, and policy makers have not raised the benchmark in successive meetings since 2006. This comes as no surprise to the markets since Chairman Powell put...