S&P 500 Near Low Heading Into Close, Down 2.9%

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JPMorgan Expects Fed's Powell To Reiterate Likelihood of 50bp Move in July Along with Downplay Potential for September Pause

June 13, 2022 8:04 AM EDT

JPMorgan analyst Michael Feroli comments "At the conclusion of next weeks FOMC meeting we, and nearly everyone, expect that the Committee will raise the target range for the funds rate by 50bp to 1.25-1.5%. Since this has already been well telegraphed, the more interesting development will be what the updated interest rate forecast dots say about the path beyond June. In March the median FOMC participant projected a 22 year-end funds rate of 1.875%; we expect that next week this figure will be revised up to 2.625%. We expect that the... More