Yellen May Hint at More Hawkish Fed Stance at September Meeting

The Federal Reserve will announce its latest decision on short term interest rates at its September meeting on Wednesday. The Fed is not expected to make any changes to current interest rates, but economists will be on the lookout for any hints on when the Fed may start raising rates. Wells Fargo Funds' Chief Portfolio Strategist Brian Jacobsen says, 'I don't think we're going to see any material changes to the policy statement. A lot of the hawkishness might come in the press conference after the release of the economic projections that they will provide.' Some economists say the Fed could start raising rates as early as March 2015 but Jacobsen believes it will not happen until June. '. It strikes a nice balance between the hawks and the doves on the fed as far as when the appropriate time for lift off is,' says Jacobsen. TheStreet's Ruben Ramirez has details from New York.