Research Brief: Financial Markets – July 2023

Hiatus short-lived as Fed re-commences rate hikes. On July 26, the Federal Open Market Committee announced the first fed funds rate increase in nearly three months, raising the metric by 25 basis points to a lower bound of 5.25 percent. This follows a pause in June during which the target rate remained flat, as the FOMC chose to observe the impact of previous rate hikes in order to calibrate policy moving forward. The Fed called attention to the resiliency of…

Download