June Inflation Will Drive Pace of Rate Hikes
In his podcast addressing the markets today, Louis Navellier offered the following commentary. In the wake of the disappointing June ISM manufacturing report, in my opinion, it would be very unwise for the Federal Open Market Committee (FOMC) to hike key interest rates at its July FOMC meeting. However, on Wednesday, the FOMC minutes from the June meeting were released and revealed that “Some participants indicated that they favored raising the target range for the federal funds rate 25 basis points at this meeting or that they could have supported such a proposal.” The key word is “some,” whi...