Fed's last rate hike coming at July meeting, economists say

FILE PHOTO: A man walks past the Federal Reserve in Washington, December 16, 2015. REUTERS/Kevin Lamarque//File Photo

BENGALURU: The U.S. Federal Reserve will raise its benchmark overnight interest rate by 25 basis points to the 5.25%-5.50% range on July 26, according to all 106 economists polled by Reuters, with a majority still saying that will be the last increase of the current tightening cycle.

A resilient economy and historically low unemployment well over a year since the Fed began one of its most aggressive rate hiking campaigns in history has repeatedly confounded analysts and investors.