SUMMARY OF FED DECISION (6/17/2026): 1. Fed leaves rates unchanged for the 4th straight meeting 2. 9 out of 18 officials expect at least one rate hike this year 3. Fed lowers its median 2026 US GDP projection from 2.4% to 2.2% 4. Fed now sees PCE inflation not returning to its 2% target until 2028 5. Fed says inflation "remains elevated" relative to their goal 6. Today's Fed decision was reached in a unanimous 12-0 vote The Fed appears to be bracing for more inflation.(The Kobeissi Letter)