With little evidence the U.S. economy is rebounding after a very weak first quarter, the Federal Reserve is in no position to start raising interest rates for the first time since 2006, a top Fed official said on Monday.
The Federal Reserve could still hike interest rates in June despite weak recent U.S. data and investor skepticism, two influential officials with the central bank said on Wednesday, putting the spotlight squarely on the economy's performance in the next two months.
Federal Reserve policymaker James Bullard said on Tuesday that zero percent interest rates were no longer appropriate in the United States, and that a rate hike in the summer would still leave policy extremely accommodative.
The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth.
