Yellen says July hike ‘not impossible’ as Fed holds
Expected path of interest rate hikes becomes more gradual while long-run level revised down again
It is "not impossible" the Federal Reserve will raise rates next month, Janet Yellen said on June 15, after the Federal Open Market Committee (FOMC) kept policy unchanged.
Fed officials lowered their forecasts for future interest rates again on June 15, but still, on average, expect to raise the federal funds rate by 50bp this year.
Markets are sceptical of the prospect of a hike in the coming months, but Yellen insisted every meeting was a "live" one. Nonetheless, the FOMC will need to "make
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