WSJ: ‘Soft’ Economic Data Lessens Chances of Rate Hike
The Wall Street Journal reported that the recent slowdown in economic activity has created uncertainty inside the Fed about when to start raising short-term interest rates, lessening the chances of a move as early as June.
The Journal noted that “soft” economic data shows the U.S. economy didn’t have great momentum moving into the second quarter, which may delay a move to raise interest rates until it becomes more likely a rebound is likely to occur.
The Journal quotes Dennis Lockhart, president of the Fed in Atlanta, as saying, “Data available for the first quarter of this year have been notably weak that is giving rise to heightened uncertainty about the track the economy is on.”
To read the Journal report, click here.