Federal Reserve's Minutes Reveal June Rate Hike Is 'Unlikely'

The minutes of the Federal Reserve's April meeting revealed a rate hike during the central bank's June meeting is 'unlikely.' Statements from central bankers are scrutinized extra carefully this year, as the Fed looks to hike short term interest rates, which have remained close to zero for over six years. In the minutes, the Fed said the economic weakness during the first-quarter was due to 'transitory' issues. TheStreet's Scott Gamm speaks with Michael Hanson, senior U.S. economist at Bank of America Merrill Lynch to analyze the central bank's latest assessment of the economy.