Economic & Market Outlook. PeoplesBank Wealth Management is a division of Orrstown Bank.
“The waiting is the hardest part” – Tom Petty
Investors have been waiting for the Federal Reserve (“Fed”) to signal a pause or, even better, an end to its hawkish monetary policy. In turn, the Fed has been waiting for data to show that its interest rate policy is having a mitigating effect on stubbornly high inflation.
The Federal Open Market Committee (“FOMC”), the interest rate setting arm of the Fed, began raising its key interest rate last year to combat the highest inflation we have seen in over forty years. The FOMC increased the federal funds target range from 0-0.25% to 5-5.25% over the fifteen-month period from March 2022 to June 2023.
Please find the latest edition of the PeoplesBank Wealth Management Economic & Market Outlook below for your reference.