Fed interest rate hike ‘unlikely’ in June

WASHINGTON, D.C.: Federal 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 on Wednesday (Thursday in Manila).

“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.