The Federal Reserve flashed mixed signals at its policy-setting meeting in June. For the first time in 10 straight meetings, policymakers did not raise the fed funds rate, leaving it in a range of 5-5.25%. But they also projected they would hike rates by at least an additional quarter point this year in their continuing effort to quell inflation. The MMDT Cash pool daily net yield climbed to 5.30% as of June 16, 2023.Current Cash Pool 7-day net yield View Yields
For more information on how you can seek to take advantage of a rising-rate environment and invest in the MMDT Cash Portfolio, call 617-335-0770.Article Falling in line
After 10 straight swings at the economy in the form of rate hikes, the Federal Reserve in June dropped it back into the toolbox by not raising the fed funds target range. But it updated its Summary of Economic Projections to suggest more hikes to come. The markets finally listened, helping to normalize the yield curve.
Deborah A. Cunningham, CFA
Brian R. Willer, CIMA®,CFA
Senior Vice President
Senior Sales Representative
Brian is responsible for relationship management with MMDT participants.
Caroline Kafafian, CIMA®
MMDT Associate Sales Representative
Caroline is responsible for relationship management with MMDT participants.
Wayne is responsible for managing the MMDT Participant Services team from the High Street office.