J.P. Morgan pushes out Fed rate-hike view to December

NEW YORK J.P. Morgan expects the Federal Reserve would raise U.S. interest rates at its December policy meeting, three months later than its earlier call for such a move, in the wake of Thursday’s Brexit vote that stunned investors, a J.P. Morgan economist said on Friday.

“On the heels of the Brexit developments we are pushing back our Fed call from September to December- there is exceptionally low visibility on the monetary policy outlook right now,” J.P. Morgan economist Michael Feroli wrote in a research note.

(Reporting by Richard Leong)