More Fed members call for first rate hike in 2014

WASHINGTON (MarketWatch)
Federal Reserve policymakers were slightly more hawkish as to when the first rate hike will be made, according to an assessment of appropriate monetary policy released by the central bank on Wednesday
Of the 17 Federal Open Market Committee members polled, seven say the first hike will be in 2014 and four in 2015, with three each saying the right hike timing is 2012 and 2013
In January, there were two members who said the first hike should be in 2016, five who said the first hike should be in 2014 and four who said the first hike should be in 2015
Three each said the first hike should be in 2012 and 2013
There were slight downward moves, however, in the target federal funds rate at the end of 2012, 2013 and 2014
The Fed's unemployment forecast was lowered and the inflation forecast hiked for 2012, 2013 and 2014, though by fairly minor amounts: for 2012, the jobless rate is seen between 7.8% and 8%, vs. January's forecast of 8.2% to 8.5%, and the PCE inflation rate is seen between 1.9% and 2%, vs. January's forecast of 1.4% to 1.8%.