FOMC Meeting RECAP 5/15 | SEP Report

The Federal Reserve had their June FOMC meeting today. Here are the main points made during the meeting.

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The Federal Reserve raised the federal fund rate by 75 basis points which is the highest rate hike in nearly three decades. The committee decided to go with the more aggressive rate hike due to the last CPI report that came out for the month of may. In the report, inflation came in higher than expectations at 8.6%

In this meeting we also got the summary of economic projections (also known as the SEP). This report tells us where members of the committee believe the economy is heading in the future.

Overall the meeting went pretty good. The Fed appears to be prepared to be more aggressive towards inflation to abide by their mandate of maximum employment and inflation at 2%.

Summary of Economic Projections (SEP) : https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20220615.pdf
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