Slow Growth for US Interest Rates

LONDON – The US Federal Reserve’s new policy statement will, as usual, be analyzed in excruciating detail in the days ahead, as investors seek guidance on when and how quickly interest rates will be raised. Notably, the word “patient” does not appear, and the Fed has signaled that it may raise its benchmark rate as early as June. But the particular wording is far less telling than the context in which the statement is being released.