The Wall Street Journal surveyed 48 private economists (June 6-10) and found:

  • the median estimate is that the Federal Reserve will likely begin raising interest rates at a gradual pace in June of 2015

Some of the economists’ comments:

  • The “Fed will start raising [the] key funds rate earlier rather than later”
  • One said Fed officials will move sooner said one,by next May, after “inflation comes out stronger than expectations”
  • Not all agree … “inflation is going to be too low to do it sooner, and next year’s voting members of the [Fed's policy committee] will be much more dovish than this year’s composition of voters” (and expects the first hike in July 2015)
WSJ rate hike from the US Federal Reserve dot chart 13 June 2014

More at an (ungated) Wall Street Journal article: Start the Countdown: Fed to Start Raising Rates in a Year — WSJ Survey