Behind the Curtain: The FOMC Meeting in Review June 2024

In a widely expected move, The Federal Open Market Committee (FOMC) kept rates steady again in June, but the press conference left some lingering questions.

While the Federal Reserve (Fed) acknowledged that current monetary policy is restrictive, Fed officials updated their forecast of three rate cuts in 2024 to one and released an updated Summary of Economic Projections. The balancing act seems to start teetering as the Fed seeks to weigh inflation against growth and employment. Can they find the “sweet spot” for rates?