Economist Predicts Federal Reserve To Skip June Rate Hike
David Wessel Hints “Skip” In Rate Hikes The 69-year-old industry veteran expressed his belief that the Federal Reserve is likely to skip rate hikes at the June meeting, citing positive labor market conditions, decreasing inflation and the U.S. averting a possible default situation, which could have triggered a catastrophic market crash. advertisement During the interview, Wessel — a two-time Pulitzer Prize awardee — was quoted as saying: I think it’s pretty clear the Fed is going to skip rate hikes at the June meeting. He further highlighted that although the decision to hold the policy rate constant at an upcoming meeting should not be interpreted as reaching the peak rate for this cycle, skipping a rate hike would instead provide the Committee with an opportunity to gather more data before making further policy decisions. This aligns with the sentiments expressed by Fed Chair Jerome Powell on May 19, who also signaled support for...