Federal Reserve likely to skip interest rate hike at its next meeting in June, hike later

Leading Federal Reserve officials are sending out stronger signals that they will forego an interest rate increase at the central bank’s next meeting in June. But they indicate hikes could resume later this year. Three leading Fed officials have expressed support for the idea of skipping a rate hike in June. That has come despite a slew of tough talk from other Fed policymakers and a disappointing inflation report last week. Fed Governor Philip Jefferson said in a speech Wednesday that skipping a rate hike at the June meeting would give Fed policymakers time to see more data before making decisions on rates.