Money Markets Split With Economists on Fed Interest-Rate Outlook

Investors eyeing recent global economic and political turmoil are expressing doubt about forecasts from Federal Reserve officials -- and most Wall Street economists -- that the Fed will begin to lift its benchmark interest rates in mid-2015.

The Federal Open Market Committee meets today and tomorrow after six weeks of volatility in global financial markets. Chair Janet Yellen and her colleagues will focus instead on a robust U.S. outlook and end their bond-buying program as planned, according to 62 of 64 economists surveyed by Bloomberg News. By smaller margins, most also expect the FOMC to reiterate rates will stay low for a “considerable time” and that there’s a “significant underutilization of labor resources.”