0422 GMT - The probability of a shift in the federal-funds target range, currently at 3.50%-3.75%, at the Federal Open Market Committee's June 16-17 meeting is all but zero, says Deborah Cunningham of Federated Hermes. While rising inflation hasn't completely stifled consumer spending, concern is rising, the senior portfolio manager says in a note. Inflation may continue to rise, but at a slower pace once the Iran conflict cools, she says. The last Summary of Economic Projections, released in March, had indicated one 25bp cut this year. June's projections will almost certainly forecast no change, she says. However, it is possible the dot plot will include indications from some policymakers that they favor a rate increase, she adds. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

June 03, 2026 00:22 ET (04:22 GMT)

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