Fed's risk assessment is the determining factor - BBH

Research Team at BBH, suggests that despite the Fed's data dependency, we argue that the determining factor is the Fed's risk assessment. 

Key Quotes

“In particular, we accept at face-value the official recognition of the risks posed by the UK referendum.  In the larger picture and from an economic and financial point of view, it matters not if the Fed hikes in June or July. 

Given the uncertainties surrounding the UK referendum, we think the Fed would prefer to wait six weeks until its next meeting than risk adding to the potential market disruption and tightening of financial conditions that could result from a UK decision to leave the EU.”