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Weekly Investment Perspective June 20, 2023

June 20, 2023
Another positive week for the market as the S&P 500 closed up 2.6% for the fifth consecutive week of gains, Nasdaq up 3.3% for the eighth consecutive week, and Dow Jones up 1.3%. Federal Reserve officials agreed to hold interest rates steady last week for the first time since March 2022 after 10 consecutive increases, but signaled they were prepared to raise rates next month if the economy and inflation aren’t showing signs of slowing. New economic projections suggested officials were leaning toward slowing down their increases rather than stopping them altogether. During the press conference, Federal Reserve chair Powell suggested two more rate increases this year, which would lift rates to a 22-year high