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Fed’s Brainard: Not Seeing Significant Q2 Bounce Back
On Tuesday, June 2, 2015, a voting member of the Federal Open Market Committee (FOMC), Lael Brainard said that current economic data does not suggest that the U.S. will see a significant second-quarter rebound. She also stated that a strong dollar delays U.S. interest rates to nominal levels. Despite the disappointing economic data, she mentioned that a 2015 rate hike is still possible. (Source: Federal Reserve, June 2, 2015.)
“No doubt, bad weather, port disruptions, and statistical issues are responsible for some of the softness in first-quarter indicators of aggregate spending,” Brainard said. (Source: Ibid.)
According to the report, the overall U.S. economy shrank in the first quarter of 2015 and U.S. gross domestic product (GDP) declined at an annual rate of 0.7% in the first three months of 2015. (Source: Bureau of Economic Analysis, last accessed June 2, 2015.)
Continue Reading>> Fed’s Brainard: Not Seeing Significant Q2 Bounce Back
