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Fed interest rate hike 'unlikely' in June: minutes

Federal Reserve policy makers do not expect to increase its key interest rate in June, minutes from the April 28-29 policy meeting showedFederal Reserve policy makers viewed an interest rate increase in June as unlikely and worried about the outlook for the economy, minutes from their April meeting showed Wednesday. “Many participants” at the meeting “thought it unlikely that the data available in June would provide sufficient confirmation that the conditions for raising the target range for the federal funds rate had been satisfied, although they generally did not rule out this possibility,” the minutes of the meeting said. A “few” officials of the Federal Open Market Committee thought that data collected by its June 16-17 meeting would likely show that the outlook had improved sufficiently to meet the central bank’s thresholds for raising the near-zero federal funds rate.

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