JUNE 16, 2021 - FOMC MEETING RECAP

Jim Barnes, Senior Vice President and Director of Fixed Income at BMT Wealth Management, discusses the Federal Open Market Committee (FOMC) held on June 15/16.  At this meeting, the FOMC revised its projections for the federal reserve target range from no rate hikes through 2023 to 50 basis points (0.50%).  The U.S. Treasury curve shifted higher immediately following the 2:00 statement to reflect the more hawkish tone.  Discussions regarding bond tapering formerly began but no changes were made.  Instead, during the post-meeting conference, Federal Reserve Chairman Powell simply said discussions will continue at upcoming meetings.