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Federal Reserve Says US Economy Strong But Waits to Raise Rates

The U.S. central bank delivered an upbeat assessment of the U.S. economy Wednesday, but says its benchmark interest rate will remain unchanged - for now. Federal Reserve officials want to see more evidence that the U.S. economy is moving closer towards the bank’s objectives of full employment and stable prices before normalizing or tightening its overnight lending rate. But as Jim Randle reports Fed Chairman Janet Yellen signaled the possibility of a rate hike before the year ends.

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