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FED: Interest Rate Hike Depends on Progress

The head of the U.S. central bank says officials might boost the key interest rate sooner than expected if the job market improves faster than currently predicted. Federal Reserve Chair Janet Yellen spoke to the Senate Banking Committee Tuesday in Washington, giving a routine assessment of the economy, interest rates, and the housing and job markets. Yellen said the U.S. economy has partly recovered from the recession and will need less and less help from stimulus efforts like...

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