The Federal Reserve seems bent on raising interest rates at least twice more this year, yet the economic data increasingly do not support the central bank’s sudden gusto for tightening monetary policy. US economic growth slowed to its weakest pace in three years during the first quarter, while employment gains have also lost momentum. More importantly, the Fed has barely just reached the 2% inflation target it has been undershooting for most of the recovery — and some economists believe the figure is likely to slip again. "After spending nearly five years missing to the downside on the inflation target, the Fed ... (full story)