Vital Signs: What's Next for the Fed?

On tap: Federal Reserve monetary policy meeting, May home sales, personal income and spending for May, June consumer confidence figures

When the Federal Reserve meets to discuss monetary policy on June 27-28, nobody expects a change in interest rates. But the markets will be keen to see how the post meeting statement characterizes economic conditions. With the economy picking up, inflation still elevated, but housing still in the dumps, Wall Street is looking for some clues on which way, if anywhere, interest rates may be headed.

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