Fed may raise interest rates again in June

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

Miami /
May.May 24, 2017 04:30 PM

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
Photo courtesy of David Iglesias
Boca Beach House condo project scores $43M construction loan
Boca Beach House condo project scores $43M construction loan
Nick Rojo and Jeff Burns (Affiliated, iStock)
Affiliated Development launches $125M workforce housing fund
Affiliated Development launches $125M workforce housing fund
Tom Cabrerizo and 6790-6880 Southwest 80th Street (Google Maps)
Developers score $15M construction loan for Miami townhouse development
Developers score $15M construction loan for Miami townhouse development
Triton Center (iStock)
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Michael S. Liebowitz and Russell Galbut (Linkedin)
Russell Galbut and partner launch blank check company, plan to raise $100M
Russell Galbut and partner launch blank check company, plan to raise $100M
Southland Mall, 20505 South Dixie Highway in Cutler Bay with JLL's Tom Hall and Danny Finkle (Google Maps, JLL)
Southland Mall’s troubled $65M CMBS loan for sale
Southland Mall’s troubled $65M CMBS loan for sale
Alan Ojeda and 8894 NW 44 Street in Sunrise (Google Maps)
Rilea Group scores $46M construction loan for Sunrise apartments
Rilea Group scores $46M construction loan for Sunrise apartments
Yard 8 and Wood Partners CEO Joseph Keough (Courtesy of ACRE)
Wood Partners lands $86M refi for Midtown Miami apartments
Wood Partners lands $86M refi for Midtown Miami apartments
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...