Fed is likely to delay 1st rate hike in 9 years a bit longer
WASHINGTON (AP) — The Federal Reserve is moving toward raising interest rates from record lows — just not likely yet.
On Wednesday, when it ends its latest policy meeting, Fed officials will issue a statement that will be parsed for clues to just when the first rate increase since 2006 might occur. The meeting will end with a policy statement but no news conference by Chair Janet Yellen.
Though many economists foresee the first hike coming in September, they don't expect this week's policy statement to clearly signal the timing. Yellen has stressed that the decision will be driven by the latest economic data. The Fed still wants to keep its options open.