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US Federal Reserve set to meet as investors watch for clues to interest rate rise

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US Federal Reserve set to meet as investors watch for clues to interest rate rise

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The US Federal reserve will be in the sights of investors when its two day meeting ends on Wednesday.

Investors will be scouring the post meeting statement for clues as to whether a June rise in interest rates is a possibility.

Policymakers will be grappling with the question as to whether the US economy has been slowed by a passing cold front or if a deep freeze has set in.

Last month’s forecast was consistent with a September date for a rise. Recent weak economic data for the first quarter has helped to underscore expectations an increase will not happen until then or even later.

The Fed’s benchmark rate has been near zero since the 2008 financial crisis.

A private sector report from industry group The Conference Board showed US consumer confidence unexpectedly slumped in April. It’s index of consumer attitudes fell to 95.2 from 101.4 in March.