The Federal Reserve made it loud and clear in their minutes released Wednesday that "it likely would be appropriate" to raise interest rates in June, assuming the economy recovers enough from the winter to justify the move. "While they haven't made a decision to move in June, they certainly want people to understand that it certainly is a possibility," the chief economist at Amherst Pierpont Securities LLC, Stephen Stanley, told Bloomberg.
The minutes said that, "Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the committee's 2 percent objective, then it likely would be appropriate for the committee to increase the target range for the federal funds rate in June." After keeping rates stable for years, the Fed raised them slightly in December 2015, but has so far postponed plans to raise them further as economic turmoil from China and oil prices have shaken global markets.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Alterations: 'riveting' 1970s tailoring comedy is a lot of funThe Week Recommends 'Retro gem' from the National Theatre's Black Plays Archive 'springs into life' from the start
-
Has World Book Day become a 'horror show'?Talking Point Annual event to encourage children to read for pleasure is sore spot for parents under 'growing pressure' to create character costumes
-
Festival of Sport announces exciting media partnership with The Week JuniorFestival of Sport, the UK’s premier family-friendly sports festival, has officially teamed up with The Week Junior as its exclusive media partner.
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
