As the economy continues to do better, Chairwoman Janet Yellen spoke this month and indicated that the Fed will definitely be increasing interest rates this year. She did not give an exact time, but it is more likely to happen in September than in June. February and March’s subpar employment creation numbers were likely attributable the poor weather. May’s job report showed that approximately $280,000 jobs were created. The unemployment rate rose a bit, from 5.4% to 5.5%. May’s numbers confirmed that the economy is doing better and rates will be climbing soon. Long term interest rates have already started to increase. We will now have to monitor the Fed and see when they decide to increase short term interest rates.
Source: Origination Pro