Federal Reserve officials want to raise interest rates in June. Now it is up to the U.S. economy to confirm their view that slow growth in the first quarter was temporary.
Minutes of the April 26-27 Federal Open Market Committee (FOMC) meeting released Wednesday in Washington used the word “June” six times in a policy context. That signal follows several speeches by regional Fed bank presidents warning investors not to dismiss a mid-year hike after the odds of such a move edged close to zero.
“The Fed put the June hike relatively aggressively on the table so long as the economic data continues to show positive signs,” said Tony Bedikian, managing director of global markets for Citizen's Bank in Boston.
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