The Fed met last week and did exactly what investors and politicians wanted.
The Fed did not disappoint last week. They did not change current monetary policy leaving the Funds rate unchanged. They did open the door for a rate cut at their July meeting. The FOMC noted an increased level of uncertainty since their last meeting citing trade tariffs and global weakness as the primary concerns. They indicated they were ready to step in and provide more monetary stimulus should these global conditions cause the U.S. economy to slow in the next few quarters.
PROBANK AUSTIN ADVISOR - JUNE 24, 2019