Federal Reserve Uncertain About Future Rate Hikes
A close look at the Federal Reserve’s minutes from its June meeting reveal that officials did not specify whether we could expect a rate hike this month or later this year.
When the central bank met last month, the May jobs report had just rattled markets and anxiety lingered over the potential Brexit and its unknown effects on the market. Policymakers did say the coming rate hikes, if any, would depend on the Federal Open Market Committee’s economic expectations, the state of the labor market and inflation, MarketWatch reports.
“The July FOMC meeting is certainly off the table. September is in play, I suppose, but only if everything breaks perfectly,” Amherst Pierpont Securities chief economist Stephen Stanley says. “That leaves December, which is currently my expectation for the next Fed move.” [MW]
