Wall Street treads lower on Fed warning, Brexit vote

The Fed said it continued to expect two hikes this year but the consensus seemed shakier with six of the 17 policymakers projecting just one hike. Fed Chair Janet Yellen sounded caution that the central bank needed to see more clear signs of economic strength before lifting rates and threw some blame of her current stance on the June 23 Britain vote on its membership in the EU. The central bank also lowered its economic growth forecast for this year and the next to 2 percent from 2.1 percent.