NY Fed's Dudley says June or July rate hike on the agenda
WASHINGTON (Reuters) - The Federal Reserve is on track for a U.S. rate hike in June or July, New York Fed President William Dudley said on Thursday, a day after the publication of the Fed's April policy meeting minutes that surprised markets with the strength of support for a hike.
"June is definitely a live meeting depending on how the data evolves," Dudley said, adding that he was "quite pleased" to see the market has priced in higher chances of a June rate hike this week.
Until the minutes were released, financial markets had all but priced out a rate hike in June. However, bets there would be a hike either next month or in July moved sharply higher after the minutes were released on Wednesday.
(Reporting by Lindsay Dunsmuir and Richard Leong; Editing by Chizu Nomiyama)