Fed will raise rates three more times this year - Reuters poll

Federal Reserve will hike rates three more times this year, pushing the interest rates to 2.25 percent - 2.5 percent by the year-end, according to latest Reuters poll. 

Key points

US core PCE inflation to average 1.9 percent - 2.1 percent in each quarter this year vs 1.9 percent - 2.0 percent forecasted in April poll. 

US GDP is seen averaging 2.8 percent this year and 2.5 percent in the next year. 

There is 15 percent probability of a recession in the US in next 12 months and 31 percent in the next two years.