May 26, 2016 / 11:47 AM / a year ago

Fed's Bullard: markets read latest Fed minutes correctly

St. Louis Federal Reserve President James Bullard speaks at a public lecture on "Slow Normalization or No Normalization" in Singapore May 26, 2016.Edgar Su

SINGAPORE (Reuters) - The market has a more appropriate reading on the chances of a U.S. interest rate rise in June now than before, St. Louis St. Louis Federal Reserve President James Bullard said on Thursday.

"I think they read the minutes correctly," Bullard told reporters, referring to the minutes of the Fed's latest policy meeting.

Global investors, many of whom had assumed the Federal Reserve was in no rush to raise interest rates, were jolted last week by minutes of the April meeting which suggested most policymakers felt the U.S. economy could be ready for another rate increase in June.

Reporting by Marius Zaharia and Masayuki Kitano; Editing by Kim Coghill

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