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US Central Bank Boosts Benchmark Interest Rate

The independent U.S. central bank raised borrowing rates Wednesday for the fourth time this year, dismissing President Donald Trump's contention that policymakers ought not tinker with the country's robust economy, the world's largest. The Federal Reserve board voted 10-0 after a two-day meeting to increase its benchmark short-term interest rate — which is the rate that banks charge each other on overnight loans to meet reserve minimums — by a quarter...

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