INVESTOR SERIES
Federal Reserve officials signaled on Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant more, or faster, increases later in the year.
Friday economic data
Economic data released on Friday pushed against a rush to larger rate hikes as retail sales rebounded in June, though they were down slightly on an inflation-adjusted basis. The New York Fed manufacturing index registered unexpected gains which supports the Fed’s three rate hikes this year.
Federal Reserve Bank Presidents…
Atlanta Fed President Raphael Bostic cautioned against the central bank moving too quickly because it could undermine the strong hiring and other positive trends still seen in the economy.
Look for target federal funds rate to a range of between 3.75% and 4.00% by the end of this year.
