The trade deficit in the U.S. probably narrowed in May as falling crude oil prices and weakening demand helped trim the import bill, economists said before a report today. The gap narrowed to $48.6 billion from $50.1 billion in April, according to the median of 70 estimates in a Bloomberg News survey. Separately, minutes of the Federal Reserve’s June meeting may shed more light on its decision to extend the maturities of assets on its balance sheet. A lack of hiring in the U.S. that helped prompt the Fed to ease monetary policy may temper consumer spending, also translating into less demand for imports other than ... (full story)