Nor is the lack of a May press conference a dealbreaker, Laura Rosner, senior U.S. economist at BNP, said in an interview. The Fed would likely hold a special news conference to explain a rate increase then, she said.
Fed funds futures are pricing in about a 36 percent chance policy makers will raise rates a quarter-point next month, data compiled by Bloomberg show. That compares with about a 60 percent probability of a move by May, rising to 72 percent by the June meeting.
Mohamed El-Erian, chief economic adviser at Allianz SE, said Wednesday that traders are underestimating the odds of a move next month, which he pegged at 50 percent to 60 percent.
El-Erian, who’s also a Bloomberg View columnist, said February jobs figures to be released March 10, particularly wage data, will have a "notable impact" on the Fed’s thinking at the March meeting.
This article was provided by Bloomberg News.