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Fed Says Economy Slowed During Winter as June Liftoff Odds Drop
Federal Reserve policy makers said the economy weakened, partly for reasons that will fade, after a sharp slowdown reinforced expectations officials will keep interest rates near zero at their next meeting in June or longer. “Economic growth slowed during the winter months, in part reflecting transitory factors,” the Federal Open Market Committee said in a statement Wednesday in Washington. “The pace of job gains moderated,” it said, and “underutilization of labor resources was little changed.” Fed officials have said they expect to raise rates this year for the first time since 2006 as the economy nears ... (full story)
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