PVG Market In A Minute - June 21, 2022
- PVG Admin
- June 21, 2022
Federal Reserve/Economy: The Fed increased interest rates by .75% last week to 1.5% to 1.75% for the Fed Funds rate. Additionally, they raised their 2022 target goal from 1.6%-2.4% to 3.1%-3.6%, (the single point estimate goes from 2% to 3.4% and next year from 2.8% to 3.9%). These are significant increases. If the Fed was not so slow to initially start raising interest rates, we would expect these targets to be appropriate, but not as it appears we are in a recession.