Fed may raise interest rates again in June

Officials said it would “soon be appropriate” to raise short-term rates

TRD MIAMI /
May.May 24, 2017 04:30 PM

Janet Yellen (Credit: Getty Images)

From TRD New York: The Federal Reserve may raise interest rates as soon as next month, the minutes from a recent policy meeting show.

In the minutes, released Wednesday, officials at the U.S. central bank said it would “soon be appropriate” to raise short-term interest rates again, the Wall Street Journal reported. That means the Fed may lift its benchmark rate at the scheduled gathering in June, according to the newspaper.

Officials also moved toward a consensus on the plan to decrease the Fed’s $4.6 trillion in holdings of Treasury and mortgage securities later in the year, by letting those securities mature without reinvestment.

“Most participants judged that if economic information came in about in line with their expectations, it would soon be appropriate for the committee to take another step in removing policy accommodation,” according to the minutes cited by the Journal.

In March, the Fed increased its benchmark interest rate to a range between 0.75 and 1 percent — the third time the Fed has raised interest rates since the 2009 financial crisis.

Officials also indicated at the meeting that they are expecting to raise rates at least twice more this year, and said they expect interest rates will settle at an average 3 percent by the end of 2019.

The next meeting is scheduled for June 13-14. [WSJ]Miriam Hall


Related Articles

arrow_forward_ios
These real estate power players are involved in 2019’s juiciest lawsuits (Credit: Getty Images)

Here are South Florida’s juiciest lawsuits of 2019

Best of TRD 2019 promo

Coming soon: The Real Deal’s Best of 2019

Madison Realty Capital'a Josh Zegen and Fort Partners' Nadim Ashi  

Four Seasons in Fort Lauderdale scores $210M loan

Daily Digest Miami

South Florida home sales struggle in October, Cipriani and Terra plan luxury condo

Rendering of Sailboat Bend II

Affordable housing project in downtown Fort Lauderdale lands $27M loan

Daily Digest Miami

SoftBank to take control of WeWork, ULI recommends changes to city of Miami zoning code: Daily digest

Daily Digest Miami

Target could be coming to North Beach, Related and Atlantic Pacific head to Miami board: Daily digest

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

arrow_forward_ios
Loading...