The latest Fed discount rate hike to 0.75%, a 25-basis-point increase - which is the interest rate at which banks borrow from the Fed's discount window on Thursday 20th of February directed most U.S. economists to expect that the Fed would raise its benchmark interest rates.

According to a survey released on Monday economist expected this rise within six months by between a quarter and a half percentage points.

A majority of economists in the National Association of Business Economists' semiannual survey found the Fed's current stance of rates near zero percent is appropriate. Some number of economists believes that the current Fed policy by keeping the inertest rate at a historical low for a long period of time is exaggerated.

"A majority believes that a rise in interest rates is both likely and appropriate in the next several months," said NABE President Lynn Reaser.

The Fed has defended his stimulus policy by pointing at the continued high rates of unemployment and low inflation warrant holding rates exceptionally low for an extended period.

Still, reports show the economy is recovering gradually, and some policy makers believe the Fed should begin to prepare markets for the beginning of the process of tightening financial conditions.

The Fed is on track to end a program of buying $1.25 trillion in mortgage-backed securities at the end of this month. The program was launched to provide extra support for the economy after policy-makers chopped rates to near zero.