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JPMorgan pushes out Fed rate-hike view to December

The monitor on a video camera shows Federal Reserve Chair Janet Yellen as she speaks at Radcliffe Institute for Advanced Studies at Harvard University in Cambridge, Massachusetts.
Brian Snyder | Reuters
The monitor on a video camera shows Federal Reserve Chair Janet Yellen as she speaks at Radcliffe Institute for Advanced Studies at Harvard University in Cambridge, Massachusetts.

JPMorgan expects the Federal Reserve would raise U.S. interest rates at its December policy meeting, three months later than its earlier call for such a move, in the wake of Thursday's Brexit vote that stunned investors, a JPMorgan economist said on Friday.

"On the heels of the Brexit developments we are pushing back our Fed call from September to December; there is exceptionally low visibility on the monetary policy outlook right now," JPMorgan economist Michael Feroli wrote in a research note.