Morgan Stanley Predicts Rate Hike Near Holiday Season

Minutes from the April 28-29 Federal Reserve Open Market Committee (FOMC) committee indicate that the Fed is keeping a stiff upper lip and is unshaken regarding plans to hike interest rates, according to a Morgan Stanley report released yesterday. Fed not shaken by poor first quarter numbers, Morgan Stanley says The report, titled “FOMC: Resolve Stirred, Not Shaken,” notes that despite “surprisingly weak” 2015 economic data, the committee is on schedule for rate hikes. The only uncertainty is at which meeting the rate hike will occur, the report, written by Morgan Stanley’s Ellen Zentner, concluded. Running through a variety of…