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US Central Bank Trims Direct Support of American Economy

The U.S. central bank has decided to start trimming back its direct support of the American economy.For more than a year, the Federal Reserve has been buying $85 billion of securities a month in an effort to keep interest rates low and boost job growth. But with the world's largest economy advancing steadily, Fed policy makers Wednesday said they would cut the asset purchases to $75 billion a month starting in January.In a statement, the central bank said it sees "improvement in...

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