While you were sleeping: Pressure eases on Fed

Thu, 12 Mar 2015

By Margreet Dietz March 13 (BusinessDesk) - Wall Street gained after a surprise drop in US retail sales bolstered hope that Federal Reserve policy makers might not be in a rush to raise interest rates after all. A Commerce Department report showed that retail sales dropped 0.6 percent in February, following an 0.8 percent slide in January and a 0.9 percent decrease in December. "This report points to a surprisingly bigger weather impact on spending activity than previously thought," Millan Mulraine, deputy chief economist at TD Securi...

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