U.S. economic data have been more disappointing than at any time in six years. That hasn’t shaken a plurality of economists who still see the Federal Reserve cranking up their benchmark interest rate in June, for the first time since 2006.
Thirty economists project the central bankers, who start a two-day meeting Tuesday, will pull the trigger at their June 16-17 gathering, according to a Bloomberg survey completed March 12 that yielded 66 responses. Another 20 said the Fed will embark on rate rises in September.
Meanwhile, everything other than monthly job gains seems to be in the pits. Wage growth throttled back in February after showing a spark, U.S. factories felt the pinch from a stronger dollar, and credit-card use hit a 14-month low in January, to name just a few.