Fed seriously considering June interest rate hike, meeting minutes show

Washington

THE Federal Reserve sent a sharp, simple message to financial markets on Wednesday: Pay attention. The Fed is thinking seriously about raising its benchmark interest rate at its next meeting, in June.

The unusually frank bulletin was delivered in the official account of the Fed's April meeting, which said explicitly that most officials thought "it likely would be appropriate" to raise rates in June if the economy shows clear signs of a rebound from a weak winter.

That message was sharply at odds with the expectations of investors, who had largely written off a June increase before Wednesday, betting instead that the Fed would leave rates unchanged until …