U.S. economy weathers market volatility as labor market improves and manufacturing steadies. Based on data received so far, first quarter 2016 real gross domestic product (GDP) growth is tracking at 1.5 – 2.0%, following 1.4% growth in the fourth quarter of 2015 and 2.0% growth in the third. Concern about global economic weakness and tightening financial conditions prompted the Federal Reserve (Fed) to delay further rate hikes and lower its internal forecast from four 25 basis point (0.25%) rate hikes in…

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