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Moody's Corporation
Noting slow economic growth, Fed keeps interest rate hike on hold
Noting slow economic growth, Fed keeps interest rate hike on hold

The economy suffered through another case of the wintertime blues this year as growth slowed nearly to a halt, probably delaying a Federal Reserve interest rate hike until September or later. Total economic output, also known as gross domestic product, expanded at a disappointing 0.2% annual rate in the first quarter, the Commerce Department said Wednesday. That was down sharply from 2.2% growth in the fourth quarter and well below what analysts expected as bad winter weather, the West Coast port dispute, falling oil prices and the rising dollar took a heavier toll on the economy than originally thought. The report came on top of recent data, including sluggish March job growth, that...

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