FOMC leaves rates unchanged. No surprise. Brexit scares. PPI inches up. Industrial production inches down. California is #6. BofA fires. Office Depot hires. Coffee best served tepid. Financial Review by Sinclair Noe for 06-15-2016. DOW – 34 = 17,640 SPX – 3 = 2071 NAS – 8 = 4834 10 Y – .02 = 1.60% OIL – 1.00 = 47.49 GOLD + 6.00 = 1292.50   It’s Fed Day. The Federal Open Market Committee (the FOMC) released a policy statement leaving the fed funds rate unchanged at 0.25 percent to 0.5 percent, in the first unanimous decision since January. The FOMC statement read: “The pace of improvement in the labor market has slowed while growth in economic activity appears to have picked up.” The Fed expressed confidence that jobs will rebound, saying that it expects “labor market indicators will strengthen.” It said that the “drag from net exports appears to have lessened” and housing has improved, while business fixed investment has been “soft.”   At the start of the year, the Fed was projecting up to 4 rate increases in 2016; they have now revised that down to 2 rate hikes. The median long-run projection for the federal funds rate fell to 3 percent from 3.3 percent in March. Most market watchers do not expect a rate hike in July, although that is subject to change between now and then, if we see a really significant pickup in economic data. The risk of the Fed prematurely raising interest rates at this ...