JP Morgan: The Fed will delay rate hikes because of the Brexit vote and the presidential election

After a dovish outlook from the Federal Reserve on Wednesday, JP Morgan's chief US economist Michael Feroli cut his forecast for the number of interest rate hikes by the FOMC in 2016 to 2. Feroli, who previously had called for 3 hikes happening during the June, September and December FOMC meetings, also said the moves would come at unexpected times: July and December. A July hike, said Feroli, makes sense since it accomplishes three goals for the FOMC, none of which have to do with their dual mandate of full employment and ... READ MORE