$LUNC Fed left interest rate decision unchanged.

Fed Interest Rate Decision (June):

Announced: 5.50%

Expected: 5.50%

Previous: 5.50%

Federal Reserve: We do not expect it to be appropriate to reduce the policy target range until there is greater confidence that inflation will move sustainably toward 2%.

Fed officials' median view on the end-2024 federal funds rate is 5.1% (previously 4.6%).

Federal Reserve: Inflation fell last year but remains high.

Federal Reserve: Risks to achieving policy goals have shifted toward better balance.

Federal Reserve: The economy continues to grow at a solid pace, job creation remains strong, and the unemployment rate remains low.

The Fed's forecasts envisage an interest rate cut of 25 basis points from the current level in 2024 and another 100 basis points in 2025.

Federal Reserve: We will continue to reduce our holdings of Treasuries and mortgage-backed securities.

Federal Reserve: Despite the lack of progress noted in its May 1 statement, modest progress has been made toward the 2% inflation target.