On Wednesday, the Fed skipped a rate hike, as expected, but indicated two more increases may be in store later this year.
that the Federal Open Market Committee would use the six weeks until its next meeting to "take into account the cumulative tightening of monetary policy." He added that a decision on July's policy move has not yet been made.
"While this policy decision indicates that the Fed has transitioned from the escalation stage of the rate cycle to the calibration stage, there is little question that the Fed is fully prepared to raise rates further in the future if needed," said Marty Green, principal at Polunsky Beitel Green.
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