News & Insights
Fed Holds Rates Under New Chair; Projections Turn More Hawkish
As anticipated, the Federal Open Market Committee maintained its interest rate target range at 3.50%–3.75% at its June meeting. In a change to its previous statement, the FOMC noted expanding economic activity, productivity growth and strong capital investment. Furthermore, the statement cited strong job gains as well as elevated inflation, attributable to supply shocks in …
Industrial Production Barely Gains While Manufacturing Output Remains Flat
Industrial production edged up 0.1% in May, while manufacturing output stayed the same after increasing 0.7% in April. At 97.9% of its 2017 average, manufacturing production moved up 1.4% from May 2025. Capacity utilization for manufacturing was 75.7%, unchanged from April but up 1.1% over the past year. Capacity utilization remained 2.5 percentage points below …
