FOMC likely to skip June but hike interest rates in July analysts say
The Federal Open Market Committee is expected this week to hold interest rates at a range of 5% to 5.25%, but the revised Summary of Economic Projections will likely signal at least one more rate hike this year. "We expect the Fed to leave the federal funds rate unchanged although both the post-meeting statement and the dot plot will likely emphasize that inaction this week should be considered 'skipping a rate hike' rather than putting an end to monetary tightening," said David Kelly, chief global strategist at J.P. Morgan Asset Management. "Indeed, Fed communications could explicitly warn of a possible further [...]