The Federal Reserve, as expected, left interest rates unchanged in today’s policy announcement. The Fed funds target rate remains pinned to the 0%-to-0.25% range and so on that front nothing’s changed. But it’s another story when you look at the Fed’s new economic forecasts, in which case the status quo narrative trembled.
The value factor, after a long drought, is showing signs of life. Analysts continue to debate if the revival is more than short-term noise, but for the moment this corner of investing is confounding critics who claimed it was a dead strategy.
* Biden meets Putin today in Geneva
* Israel bombs Gaza — first airstrike since last month’s ceasefire
* No policy changes expected for today’s Fed announcement
* Biden ban on new oil and gas leases blocked by federal judge
* China’s industrial output, retail sales rose less than expected in May
* NY Fed Mfg Index reflects slower growth for second straight month in June
* Producer price inflation continued to accelerate in May
* US industrial production rebounded in May following weak gain in April
* US retail sales fell more than expected in May: