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Fed expected to signal rate hike later this year

Federal Reserve Board Chairwoman Janet Yellen at IMF headquarters in Washington, DC on May 6, 2015A year after the Federal Reserve pointed to mid-2015 — now — for its first rate hike in nine years, the US central bank is expected Wednesday to keep monetary policy on ice. Analysts are increasingly focused on September for the liftoff of the federal funds rate from the zero level, where it has sat since 2008, if the economy continues to grow at the pace of the past few months. Analysts expect the policy makers of the Federal Open Market Committee, led by Yellen, will want to wait for a bit more data to confirm their view that the weaknesses behind the first-quarter contraction were indeed, as they have said, transitory.

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