“Modest” Progress On Inflation, Only One Cut Coming? 6/12/24

The Federal Reserve kept its key interest rate unchanged, and signaled that just one interest rate cut is expected before the end of the year. With markets hoping for a more accommodative central bank, FOMC policymakers took two rate reductions off the table from the three indicated in March. We’ll break down exactly what that means for markets and your money, right up until Fed Chair Powell’s press conference.