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Brent Ciliano, First Citizens Chief Investment Officer, and Phillip Neuhart, First Citizens Director of Market and Economic Research, provide timely insights and in-depth commentaries on the issues impacting the economy and the markets.

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Market Update

Making Sense: In Brief

Phillip Neuhart, Director of Market and Economic Research, brings you a brief overview of what's coming in the week ahead for markets and the economy.

Making Sense: In Brief video

Making Sense: In Brief

The week ahead for markets and the economy

Phil: Last week, markets digested fresh consumer and producer inflation reports.

Looking to the week ahead, the headliner will be the Federal Open Market Committee's interest rate decision on Wednesday. The Fed is highly likely to keep the federal funds rate unchanged, but any indication of future monetary policy in either the meeting statement or Chairman Powell's press conference will move markets. Remember, at one point, the futures market priced a high probability that the FOMC would cut the overnight rate at this meeting, but the data did not cooperate, and Fed speakers made it clear they would not be cutting interest rates so soon.

The Committee also releases their quarterly summary of economic projections at this meeting. We will be particularly focused on any changes to the Committee members' forecast of the federal funds rate.

The residential housing market will also be an area of focus this week with homebuilder sentiment on Monday, housing starts on Tuesday and existing home sales on Thursday. Elevated mortgage rates have limited the supply of homes, which has thereby depressed sales, but supported new construction. Any signs of loosening in the housing market this week would be welcome.

So items to watch this week. One, the FOMC meeting, two housing data.

Making Sense In Brief Outro Slide

Brent Ciliano

CFA | SVP, Chief Investment Officer

Capital Management Group | First Citizens Bank

8510 Colonnade Center Drive | Raleigh, NC 27615

brent.ciliano@firstcitizens.com | 919-716-2650

Phillip Neuhart SVP, Director of Market and Economic Research

Capital Management Group | First Citizens Bank

8510 Colonnade Center Drive | Raleigh, NC 27615

phillip.neuhart@firstcitizens.com | 919-716-2403

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The views expressed are those of the author(s) at the time of writing and are subject to change without notice. First Citizens does not assume any liability for losses that may result from the information in this piece. This is intended for general educational and informational purposes only and should not be viewed as investment advice or recommendation for a security, investment product or personal investment advice.

Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC; First Citizens Investor Services, Inc., Member FINRA and SIPC an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.

See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.

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Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results. Asset allocation, dollar cost averaging and diversification do not guarantee a profit or protect against loss. There is no guarantee that a strategy will achieve its goal.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, Equal Housing Lender; First Citizens Investor Services, Inc., Member FINRA and SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.

See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.