June FOMC meeting: More gradual rate hikes than previously expected, once rate tightening begins | Eurobank
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June FOMC meeting: More gradual rate hikes than previously expected, once rate tightening begins

As expected, the Federal Reserve left its monetary policy stance unchanged at the 16-17 June meeting. According to the post-meeting statement,1 the committee upgraded its assessment of economic activity, acknowledging some moderate economic expansion as well as some further diminishing of underutilized labor resources. Moreover, household spending was described as moderate and the housing market as having improved somewhat. In line with its April assessment, the committee characterised business investment and net trade as soft, probably reflecting the energy sector adjustment and the West Coast port strikes.