The Federal Reserve will indicate it wants to raise interest rates later this year, but will not go through with it at its meeting this week, Paul Mortimer-Lee, global head of market economics at BNP Paribas, said Tuesday.
"I think they will show through the circled dots that they will hike three times this year. So the message is, 'we're not going in March, because of uncertainty, but we're highly inclined — if the market and the data allow us — to go in June,'" he told CNBC's "Squawk on the Street."
"I don't think the data will allow them to go in June."
The Fed kicked off its two-day policymaking meeting Tuesday, and is expected to leave interest rates unchanged, according to the CME Group''s FedWatch tool.
Recent economic data have been mixed, with the U.S. unemployment rate at its lowest levels in nearly eight years, while retail sales are down for the year.