Tags: byron wien | federal reserve | interest rates | hike

Blackstone's Wien: Fed 'Dying' to Raise Rates as Soon as September

Sunday, 12 July 2015 11:59 AM

A strengthening U.S. economy may prompt the Federal Reserve to raise interest rates as soon as September, said Byron Wien, vice chairman of the advisory services unit at Blackstone Group LP.

“I think the economy is going to do much better in the second half, and I think the Fed is dying to go,” Wien said on the television program “Wall Street Week” Sunday.

Fed Chair Janet Yellen, in a speech delivered Friday in Cleveland, maintained her call for an interest-rate increase this year as the U.S. economy improves.

The probability of a Fed rate increase at its December meeting moved up to 67 percent from 54 percent on July 8, according to futures data compiled by Bloomberg. For September, the odds increased to 33 percent from 21 percent.

“Fundamentals are going to improve through the remainder of the year,” Wien said.

“Earnings are going to be better than expected.”

Oil prices are also likely to increase, he said. In January, Wien said he thought the Fed would act before the mid- point in the year. On Sunday, he acknowledged that “obviously, I was wrong about that.”

“Wall Street Week” is produced by SkyBridge Media, an affiliate of SkyBridge Capital, the fund-of-funds business founded by Anthony Scaramucci. SkyBridge, which sometimes has other business relationships with the show’s participants, advertisers and sponsors, pays Fox stations in key markets to broadcast the show and also streams it online every Sunday at 11 a.m. in New York.

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The U.S. economy is strengthening and may prompt the Federal Reserve to raise interest rates as soon as September, said Byron Wien, vice chairman of the advisory services unit at Blackstone Group LP."I think the economy is going to do much better in the second half, and I...
byron wien, federal reserve, interest rates, hike
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2015-59-12
Sunday, 12 July 2015 11:59 AM
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