Wall Street's biggest banks are sticking to bets that the U.S. Federal Reserve will raise interest rates once this year, and the increase would most likely occur in December after a tepid employment report for August quashed most talk of a move as early as this month. Economists for 13 out of 14 primary dealers who responded to a Reuters poll on Friday said they expect the Fed to lift the targeted range for its benchmark short-term interest rate by a quarter-percentage point to a median level of 0.63 percent by year end. The current mid-point for the federal funds rate is 0.38 percent.
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Wall Street still sees Fed on pace for one rate hike, in December: Reuters poll