Robertson Stephens Weekly Commentary – June 15, 2026

The intersection of a possibly seminal Federal Open Market Committee (FOMC) interest rate meeting this week with the signing of a Memorandum of Understanding (MOU) to end the US conflict with Iran and open up the Strait of Hormuz is a good time to remind ourselves that the dual mandate of the Federal Reserve includes a commitment to price stability, NOT to price affordability. The initial public offering (IPO) of SpaceX was the largest IPO on record and traded up after its initial pricing per share. Broadly speaking, investors are navigating a market shaped by various forces. Geopolitical tensions, persistent inflation, and uneven consumer resilience are complicating the economic outlook. On the wealth planning front, we discuss Social Security's funding challenges and how to approach claiming decisions thoughtfully.