Coming off of last Friday's knockout jobs data from May, this week could prove to be a rollercoaster for markets (^DJI, ^IXIC, ^GSPC) with Wednesday's CPI (Consumer Price Index) inflation data compounded by the Federal Reserve's FOMC meeting regarding interest rates. But just because investors are in for an eventful week, should they expect anything new to happen, particularly from the Fed?
Morningstar Chief US Market Strategist David Sekera believes the Fed's monetary policy choice to be "pretty boring" and Chair Jerome Powell's commentary to be largely "unchanged" from previous meetings.
"They'll acknowledge that the economy is slowing, but not slowing to the point that it's necessarily concerning the Fed at this point," Sekera tells Market Domination Overtime, saying the July meeting may end up being more important. "We do think the fed is going to start cutting rates at September. So if they do... I think they're going to want to give that indication to the market at the July meeting."
Sekera goes on to discuss the narrative behind inflation and recent economic prints.
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