Weekly Commentary | June 18, 2023

Macro Picture

The Fed delivered what some have described as a 'skip and a jump' refraining from bumping up interest rates while all but guaranteeing another hike in July.  Some have been calling this a pause but this is not really a pause so much as a skip as one month of not raising rates isn't much of a pause.

The Fed guidance may be a lot of bluster to…