Anyone trying to peg the likelihood of a Federal Reserve interest rate hike this year has been subject to a topsy-turvy shift of expert opinion the past few months. And when the Fed holds its latest policy meeting this week, few think it will provide much more clarity.
In a possible preview of a speech Federal Reserve Chair Janet Yellen will give Monday, a close ally said Friday that the Fed should be in no hurry to raise interest rates, especially after a bleak U.S. jobs report.
The Federal Reserve said Wednesday that the economy grew at a modest pace in much of the country from April to mid-May, despite headwinds ranging from slower consumer spending to ongoing weakness in the manufacturing and the energy sectors.
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