Implode-o-Meter News - Hilsenrath's Take: `Brexit' Vote Means More Fed Delay

Officials just a few weeks ago were looking at a move by theirÂ July 26-27Â policy meeting. That now looks highly unlikely and a move at subsequent meetings becomes less likely, too, at least until it becomes clearer how events in Europe will affect the U.S. economic outlook.
The most important development from the Fed's perspective is a sharp rise in the dollar, which rose 2% against a broad basket of currencies.

The strengthening dollar is in effect a policy tightening for the U.S. that hurts exports and puts downward pressure on import prices. Stock market declines and the global flight from risky assets add to this tightening effect.

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Hilsenrath's Take: `Brexit' Vote Means More Fed Delay