Fed opens door further for June interest rate hike

The Federal Reserve on Wednesday opened the door further for an interest rate hike as early as June, ending its pledge to be "patient" in normalizing monetary policy. 

But the U.S. central bank signaled a more cautious outlook for U.S. economic growth and slashed its projected interest rate path, in a sign that it remains concerned about the health of the recovery.

The Fed said a rate increase remained "unlikely" at its April meeting and said its change in rate guidance did not mean the central bank has decided on the timing of a rate hike.

It had previously said it would be patient in considering when to bring monetary policy back to normal .... http://www.reuters.com