JUNE 16, 2021 - FOMC MEETING RECAP
Update: 2021-06-17
Description
Jim Barnes, Senior Vice President and Director of Fixed Income at BMT Wealth Management, discusses the Federal Open Market Committee (FOMC) held on June 15/16. At this meeting, the FOMC revised its projections for the federal reserve target range from no rate hikes through 2023 to 50 basis points (0.50%). The U.S. Treasury curve shifted higher immediately following the 2:00 statement to reflect the more hawkish tone. Discussions regarding bond tapering formerly began but no changes were made. Instead, during the post-meeting conference, Federal Reserve Chairman Powell simply said discussions will continue at upcoming meetings.
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