Will ‘Modest’ Economic Growth Deter the Fed?

(RECAP: All eyes are on economic data as the country waits to see if the Federal Reserve will raise the federal funds target rate later in June. A rate hike is widely anticipated by economists and analysts; the latest economic data reported by the Fed, however, may put the rate hike on hold at least until late July. According to the Federal Reserve’s latest Beige Book released on Wednesday, most of the Fed’s 12 Districts reported only modest economic growth from April through mid-May, the period covered by the Beige Book.)