June Rate Hike Is Off the Table: Wells Fargo Strategist

While it's clear economic growth has been slowing, the Federal Reserve is on edge, looking to hike short-term interest rates for the first time since 2006. Those rates have been near zero since December 2008. Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said a June rate hike is off the table. 'We have been leaning towards September and [looking at] some of the data, you could easily make the argument that the Federal Reserve doesn't have to do anything this year.' TheStreet's Scott Gamm speaks with Wren about the Fed, inflation and his investment playbook for the month of May.