While private economists had expected the Fed's first rate hike to occur in September, the recent standoff on Greek debt and the sharp plunge in Chinese stock prices — which emerged after the Fed's June gathering — have prompted many analysts to expect a delay until the end of the year. The Fed officials said that the cumulative gains in the job market over the past year had been "substantial" but that they wanted to see further progress, including evidence of stronger wage growth. [...] recent events including the Greek debt crisis, plunging stock values in China and a somewhat disappointing June jobs report in the United States have caused many economists to push the date of the first rate hike until later in the year. The developments overseas are already affecting global financial markets and could hurt the U.S.
Comment on Fed officials still cautious in June about rate hikes
By MARTIN CRUTSINGER, AP Economics Writer, Seattle Post-Intelligencer: Business
Wed, 07/08/2015 - 11:57am
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