Fed’s Dudley signals go-slow approach to rate hike

April 6, 2015 3:00 PM

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Fed’s Dudley signals go-slow approach to rate hike

WASHINGTON (MarketWatch) — New York Federal Reserve President William Dudley on Monday said the economy should speed up soon after a first-quarter slowdown, which he blames partly on bad weather. But he also offered caveats that leave plenty of room for doubt and suggested the Fed won’t raise interest rates at least until September.

In a speech in New Jersey, Dudley said he expects U.S. growth to slow to 1% in the first quarter from 2.2% in the final three months of 2014. He pointed to a string of soft economic reports, including a mediocre 126,000 increase in U.S. jobs in March that was only half as large as Wall Street expect...

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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