U.S. | FOMC Statement: June 16th – 17th

Summary

Time to Focus on the Future Rate Trajectory Rather than the First Hike. FOMC continues to delay first rate hike but signals that liftoff is likely sometime in 2015. Revised projections hint at more pessimistic growth in 2015 and slower pace of rate hikes. Our expectations remain for the first rate hike in September, closing out 2015 at 0.5%

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