We believe in a smarter, safer approach to investing—one that puts protecting against the downside first.
In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate.
— U.S. Federal Open Market Committee, June 14, 2017
At L&S, we are fond of saying that when the facts change, we will change, but in July the facts remained the same.
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