Fed split on timing of interest-rate hike

WASHINGTON, D.C.: The Federal Reserve was split at its last policy meeting on when to raise ultra-low US interest rates, with timing ranging from June to 2016, according to minutes released on Wednesday (Thursday in Manila).

“Several participants judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting,” said the report on the March 17 to 18 meeting of the Federal Open Market Committee (FOMC), the central bank’s policy arm.