Fed Shies Away From June Rate Hike

A patch of soft economic data has created uncertainty inside the Federal Reserve about when to start raising short-term interest rates, dimming the chances of a move as early as June.

Recent reports showed a slowdown in U.S. hiring in March, tepid growth in consumer spending at retail stores, a big drop in industrial output and softer-than-expected home building, reinforcing a view the economy downshifted in the first quarter and didn’t have great momentum moving into the second.

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