Federal Reserve Leaves Rates Unchanged at June Meeting

By Tom Burnett CFA On June 14, 2023, the Federal Reserve announced that it would not be changing the current Fed Funds range of 5-5.25%, after ten consecutive decisions to raise interest rates. The Fed policy statement accompanying the announcement made clear the intention to reach the goal of 2% inflation…

By Tom Burnett CFA On June 13, 2023, the Bureau of Labor Statistics released its May report on Consumer Price Index information. The CPI rose 0.1% in May, following an increase of 0.4% in April. Over the past 12 months, the Index has risen by 4.0%, compared to a 12-month increase of 4.9% in April...…

By Tom Burnett CFA On June 6, 2023, the World Bank released its updated GDP Forecast report for 2023 and 2024. This report updates the January 2023 Forecast report. The Bank now projects World growth of 2.1% this year, down from 3.1% in 2022. The forecast for 2024 is for growth of 2.4%, down from...

By Tom Burnett CFA On June 2, 2023, the Bureau of Labor Statistics released its employment report for May 2023. Total nonfarm, payroll employment increased by 339,000 to a record level of 156.1 million, some 3.8 million higher than one year ago. The unemployment rate rose from 3.4% in April to 3.7% in…

By Tom Burnett CFA On May 11, 2023, the Bureau of Labor Statistics released the PPI report for the month of May. The PPI rose 0.2% in April, after a decline of 0.4% in March. For the 12-month period ending in April, the Index rose by 2.3%, the smallest 12-month increase since late 2021. In...