The Federal Reserve concludes its June Federal Open Market Committee meeting on Wednesday. - From https://finance.yahoo.com/news/fed-fomc-preview-june-2017-142110540.html
The Fed’s preferred measure of price inflation, the core Personal Consumption Expenditures index, fell to 1.5% year-over-year in April, its lowest level in months.
Another measure of inflation, the Consumer Price Index, dipped to 1.9% year-over-year in May.
“Instead of changing their forecasts materially at the June meeting, we expect more substantive changes in the September meeting after more data become available.” “The statement could read a little more dovish than the one released after the May meeting,” said Michael Feroli, chief US economist at J.
“The last paragraph [of the FOMC statement], about balance sheet policy, we think could be updated,” note Seth Carpenter, Chirag Mirani, Samuel Coffin and Robert Sockin of UBS Securities.
“The Fed has said that the timing of the runoff of their balance sheet is tied to normalization of the federal funds rate being ‘well underway.’ That point, the FOMC has said, is expected to be reached later this year if their economic forecasts are borne out.”