Fed expected to pause rate hikes in June

In the Asian session on Monday (May 29), the U.S. dollar index rose, with the latest price of the U.S. dollar at 104.28, an increase of 0.07%. Economists still expect the Fed to pause in rate hikes in June, but say the odds are now “evenly matched” to the odds of no pause.

The latest from the Federal Reserve:

Economists led by Jan Hatzius said: “While we continue to expect the Fed to pause rate hikes in June, stronger-than-expected consumer spending and inflation data, coupled with a broad range of Fed participants’ views on the appropriate policy path, That all puts it (and the odds of not pausing rate hikes) on par.”