Tuesday  16 June 2015  / Hour 1, Block A: Phil Izzo, WSJ lead editor, Real Time Economics blog, in re:LK: Donald Trump is an America First fellow [not quite accused of being an Amerca First member orAmerica Firster], who holds that bureaucrats, pols and most everybody else is in the way and bleeding tax dollar; that he, alone, can solve the country's problems and turn around our economy and international standing.  JR:  In the first quarter the economy fell – not good , but seems to have been a one-off. Same as 2009 onward: we're always waiting waiting to break out.  LK: Zero inflation, lower energy prices, a real income effect that [should have led to] better spending.  . . . at tomorrow's FOMC mtg, Yellin will hang on to "gradual," will cook up arguments, will raise rates at the rate of an injured snail, from Sept to the end of the year. Note:  there's a Fed mtg in July; not out of the question that they'll raise the target rate by a quarter-per cent.