Fed's Brainard won't support a rate hike this month
The Federal Reserve governor Lael Brainard said she will not support a rise in interest rates in June, as sluggish data in the first quarter did not warrant an immediate hike.
"Based on the data available today, it is hard to dismiss the chance that the economy is weaker than had been expected,” she said in a speech to the Center for Strategic and International Studies in Washington.
Brainard, who joined the Fed a year ago, said the Fed should consider “giving the data some more time" to confirm further improvement in the labour market.