Fed's Dudley Links Weak First Quarter to Temporary Factors

April 6, 2015 9:32 PM

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One of the Federal Reserve's top officials Monday attributed much of this year's economic weakness to temporary factors, including bad winter weather, suggesting he still expects the central bank to start raising interest rates this year.

William Dudley, president of the Federal Reserve Bank of New York, was the first Fed official to comment publicly on the economy and monetary policy since the Labor Department said Friday that job growth slowed sharply in March and was less than earlier estimated in January and February.

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