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June is month to watch for rate hike

Wednesday, May 18, 2016 - 01:01

The minutes from the April Federal Reserve policy meeting indicate a likely interest rate hike in June if the economy improves as policymakers expect. Bobbi Rebell reports.

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Mark your calendars for June. That's when the Fed says it will likely raise interest rates if economic conditions are as strong as they expect. In the just-released minutes from the April meeting, the central bank said it expects to see stronger second-quarter growth as well as firming inflation and employment. Mark Hamrick of Bankrate.com: (SOUNDBITE) MARK HAMRICK, SENIOR ECONOMIC ANALYST, BANKRATE.COM, (ENGLISH) SAYING: "They are laying it all out saying these are the switches that need to be toggled if we are going to go with a rate increase. That is why, I think, it is so very important to say the next four weeks of data are key, and that includes another jobs report. " The Fed also said it was less concerned about a global economic slowdown, though they were paying attention to a possible British exit from the European union in a vote next month. Policy makers also expressed concern about the market not being prepared for a June hike ... and the need to better communicate. The Fed hiked rates in December for the first time in nearly a decade.

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June is month to watch for rate hike

Wednesday, May 18, 2016 - 01:01