According to The Wall Street Journal survey, about 82% of economists expect the Fed to start raising its interest rate in September. 15% expect that the Fed would wait until December.

72% of economists expected last month that the Fed to start raising its interest rate in September, while 9% expected the first interest rate hike in December.

"The Federal Reserve continues to message that it intends to normalize rates this year, and with rebounding activity in the coming months, September continues to be the leading candidate," National Association of Manufacturers chief economist Chad Moutray said.