Financial Conditions Tightened Prior to June Fed Meeting: Chart

How Will Brexit Uncertainty Impact Fed Policy & the U.S.?

A measure assessing the cost and availability of credit in U.S. markets was improving until Federal Reserve Chair Janet Yellen in late May threw her support behind another interest-rate increase "probably in coming months." But by the Fed’s June 14-15 policy meeting, and ahead of the U.K.’s vote to leave the European Union, financial conditions had tightened. Minutes of the FOMC meeting, released later on Wednesday, may provide more detail on why central bankers backed away from raising interest rates.

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