Which banks hit record highs?

Goldman Sachs (GS) and Morgan Stanley (MS) hit record highs, while JPMorgan Chase (JPM) and Bank of America (BAC) also rose.

What is the expected Fed interest rate range?

Traders expect the Fed to keep the federal-funds rate at 3.50% to 3.75%.

Big Bank Stocks Hit Records Ahead of Fed Meeting

Shares of major U.S. banks, including Goldman Sachs and Morgan Stanley, hit record highs on Wednesday as markets await the first Federal Open Market Committee meeting under new Fed Chair Kevin Warsh. Traders widely expect the Fed to keep rates unchanged at 3.50%-3.75%.

June 17, 2026

2 min read

Source: Barrons.com

Key Numbers

fed funds rate

3.50%-3.75%

Shares of major U.S. banks outperformed the broader market on Wednesday, with some hitting record highs, as investors awaited the first Federal Open Market Committee (FOMC) meeting under new Fed Chair Kevin Warsh.

Investment banks lead the rally

Investment banks Goldman Sachs (GS) and Morgan Stanley (MS) led the charge, both hitting record highs, according to FactSet and Dow Jones Market Data. Shares of commercial banking giants JPMorgan Chase (JPM) and Bank of America (BAC) also rose.

Fed expectations

Traders widely expect the Federal Reserve to keep the benchmark federal-funds rate unchanged at a range of 3.50% to 3.75% at this meeting. Markets are closely watching for any signals on the future path of monetary policy.

Sector performance

The strong performance of bank stocks reflects investor optimism about stable interest rates and a robust U.S. economy, which supports bank profits from lending and financial services activities.

Frequently Asked Questions

Bank stocks rose as investors awaited the first FOMC meeting under new Fed Chair Kevin Warsh, with expectations that the Fed will keep interest rates unchanged.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.