Fed considers skipping June rate hike to gather more data.

Federal Reserve officials, including the vice chair-designate, hinted at a rate hike "skip" in June, leading to a reversal of market expectations for another hike as the US central bank weighed the value of caution against still strong inflation data. The Fed's main measure of inflation did accelerate in April and remains more than twice the central bank's target, data that has prompted some officials to say rates need to continue higher. However, some officials are leaning towards a "hawkish pause," with rates held steady for now but the door left open for further increases.