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Fed's Powell sees sees 50/50 chance of September rate hike

Published 06/23/2015, 09:05 AM
Updated 06/23/2015, 09:05 AM
© Reuters.  Fed Governor Powell sees sees 50/50 chance of September rate hike

Investing.com - Federal Reserve Governor Jerome Powell said Tuesday that the conditions needed for the first rate hike could potentially be satisfied "as soon as September."

Powell said was a 50-50 chance of a rate hike at the Fed's September meeting and added that he envisions a second hike in December.

His comment came at a breakfast conversation in Washington DC.

EUR/USD was trading at 1.1170 from around 1.1206 ahead of the comments, GBP/USD was at 1.5742 from 1.5786 earlier, while USD/JPY was at 124.05 from 123.87 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.64, compared to 95.34 ahead of the report.

Meanwhile, U.S. stock futures pointed to a modestly higher open. The Dow futures pointed to a gain of 0.1%, the S&P 500 futures tacked on 0.1%, while the Nasdaq 100 futures advanced 0.1%.

Elsewhere, in the commodities market, gold futures traded at $1,177.30 a troy ounce, compared to $1,182.30 ahead of the data, while crude oil traded at $59.97 a barrel from $60.09 earlier.

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