The Federal Reserve will raise its short-term target rate while trying to keep markets calm by signaling future interest-rate hikes will come at an “unhurried” pace. The Fed, which begins two days of talks later Tuesday, will make few wrinkles because “it is in a good spot,” said Ellen Zentner, chief U.S. economist at Morgan Stanley. “The data since March is pretty much in line with the outlook and the rate path clearly remains a gradual one,” she said in an interview. “We’re just not at the point where the Fed needs to be worried about the rise of inflation,” Zenter added. While core inflation is moving toward the ... (full story)