U.S. Federal Reserve targets June for possible second interest rate hike

, Investment

Federal Reserve chair Janet Yellen. The Fed said in its April meeting minutes that a June rate hike is likely if the economy continues to improve.

Most Federal Reserve policy makers in April said an interestrate increase would be appropriate in June if the economy continued to improve, but were divided over whether those conditions were likely to be met in time.

“Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labour market conditions continuing to strengthen and inflation making progress toward the committee’s 2 per cent objective, then it likely would be appropriate for the committee to increase the target range for the federal funds rate in June,” according to minutes of the Federal Open Market Committee’s April 26-27 meeting released Wednesday in Washington.

“Participants expressed a range of views about the likelihood that incoming information would make it appropriate to adjust the stance of policy at the time of the next meeting,” the minutes stated.

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