by Patrick O’Hare
Financial Sense
With the release of the minutes for the April 26-27 Federal Open Market Committee (FOMC) meeting, the Federal Reserve floated a trial balloon about possibly raising the target range for the fed funds rate at its June 14-15 FOMC meeting. Well, that trial balloon got popped by the Employment Situation Report for May, which created quite a situation for the capital markets.
Probably Not
To be fair, there wasn’t a lot of conviction ahead of the report in the idea that the Fed was going to raise the fed funds rate in June.