Benchmark
It Already Looks Like This Quarter Will Be an Economic Disappointment
Fed officials need to see economic momentum to raise rates
Pumpjacks stand on the site of an oil well outside Williston, North Dakota, U.S., on Wednesday, Feb. 11, 2015.
Photographer: Daniel AckerThis article is for subscribers only.
You can now hear the echo of weak first-quarter economic reports in forecasts for the second quarter.
Another round of weaker-than-expected data -- this time in the form of the March durable goods orders report released this morning by the Commerce Department -- is casting doubt on the assumption that the U.S. economy will rebound in the second quarter after a series of shocks slowed growth in the first three months of the year.