FOMC: Watching, Waiting, Anticipating

BOSTON, MA, June 12, 2024 — The Federal Open Market Committee (FOMC) met today to assess the state of the U.S. economy and monetary policy. 

What We Learned

For the fourth time in as many meetings this year, the FOMC left the Federal Funds Target Rate unchanged at 5.25-5.50%, in line with market expectations. Inflation and employment data continue to remain inconsistent with the Committee’s requirements to lower rates. While some recent inflation prints offer encouraging signs, the labor market refuses to signal significant weakness.

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