FOMC Statement: Federal Reserve Discusses Rate Increase, but Concerned About Growth

The post-meeting statement of the Federal Reserve's Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent.