The CME FedWatch Tool now projecting a 64% chance of another 25-basis-point hike at the June 13-14 meeting.
"The U.S. economy continues to confound the doubters, with strong spending keeping inflation far too high," said ING chief international economist James Knightley. "The Fed hawks will increasingly move into the ascendancy, and if the debt ceiling drama is resolved favorably and next Friday's jobs numbers are hot, we have to accept a June interest rate hike would look more likely than not."
