Economic Update - June 2018

The U.S. labor market continues to show surprising strength after adding a better-than-expected 223,000 jobs in May. The unemployment rate also declined to 3.8 percent, matching the lowest level since 1969. With an expanding labor market and solid economic growth, the Federal Reserve announced another quarter-point rate increase for the federal funds rate, bringing the target range to 1.75-2 percent. The real surprise, however, is the Fed’s anticipation two additional rate hikes in 2018.

Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, as we discuss the current economic conditions and the Fed’s recent decision to raise short-term interest rates.

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