FOMC No Surprise, Ukraine G-7 Focus, and Vote in Congress

The FOMC met this week, and as expected, it kept interest rates steady.  The surprise was that the Committee changed its outlook and revised potential rate cuts from three to one.  While the official statement and Chair press conference were hawkish, there remains a likelihood that there will be at least one cut this year.

President Biden was in Italy this week for a meeting of the G-7 nations.  Their commitment to Ukraine was a central focus of the meeting, and the nations co...

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