The Federal Reserve Board is likely to leave the federal funds rate in a target range of 0% to 0.25% until next spring and then raise it to 1.25% by the end of next year, in the view of forecasters surveyed by the National Association for Business Economics, which released the findings Wednesday.

The 45 group members, surveyed between April 27 and May 11, see signs that the economy is “stabilizing,” and they expect the gross domestic product to grow in the second half, but they expect recovery to be only gradual and marked by continued labor market deterioration. They lowered their growth forecast from February.

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