The Federal Reserve has signaled it may raise interest rates in June, but next month's British referendum on whether to leave the European Union will likely keep policymakers on hold until July, some market watchers said Thursday.
Minutes from the Fed's April meeting revealed the Federal Open Market Committee will raise interest rates in June if economic data points to growth in the second quarter, as well as continued labor market improvement and progress toward the Fed's 2 percent inflation target.
But with Britons going to the polls just one week after the Fed meets on June 14-15, a rate hike next month still looks unlikely, said F.L. Putnam Investment Management CEO Tom Manning.
"Why is the Fed going to do anything ahead of the vote on the Brexit? They've probably laid the groundwork now for July," he told CNBC's "Squawk Box."