Most Wall Street Firms Still See Fed Rate Hike By June 2015: Poll

(Reuters) - Wall Street's biggest banks remain convinced the Federal Reserve will raise interest rates by June 2015, a Reuters poll found, and economists also said the market was underestimating how aggressively the U.S. central bank will tighten policy. Fourteen of 19 primary dealers, or the banks that deal directly with the Fed, said they expect the first rate hike by June 2015, with borrowing costs rising to 1 percent at the end of that year.