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Johnson: Fed Faces Reality on Rate Hikes

The central bank's opinion of the U.S. economy isn't much changed, but it confirmed suspicions that it won't be able to raise rates as quickly as it'd hoped, says Morningstar's Bob Johnson.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. The Federal Reserve stood pat on rates in March and also scaled back its expectations for future rate increases. I'm joined today by Bob Johnson, our director of economic analysis, for his take.

Bob, thanks for joining me.