Fed skips a rate rise for the first time in 15 months
What happened. After its 13-14 June 2023 meeting the Federal Reserve left the target range at 5.00-5.25%, ending a run of ten consecutive increases, while projections showed two more increases possible in 2023.
Why it matters for investors. The decision was described as a skip, not an end to tightening, and markets focused on whether rates would stay elevated for an extended period.
Event date: 14 Jun 2023. Source: Federal Reserve Board, FOMC statement and projections.
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