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)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app