The next meeting of the FOMC takes place on July 29-30. We expect the Committee to keep the target range for the federal funds rate unchanged at 4.25-4.50% as the majority of the Committee is waiting for more clarity about trade policy and the impact of tariffs on the economy. There will be no new projections, so we only have the formal statement and Powell’s post-meeting press conference to look forward to. During the press conference Powell is likely to repeat that the Committee is waiting for more clarity about trade policy and the impact of tariffs on the economy. The next meeting of the FOMC takes place on July ... (full story)