Rare split at Federal Reserve ahead of policy meeting

Federal Reserve Chair Janet Yellen says she is still confident that US growth data will justify a rate increase by the end of the yearFederal Reserve Chair Janet Yellen faces a rare open split among her team of policymakers as they head into a meeting Tuesday and Wednesday to again weigh raising interest rates. A new wave of doubts about the US economy among several Fed officials is almost certain to see the central bank again put off the decision for its first hike in the benchmark federal funds rate in nine years, analysts say. A rate cut Friday by the People’s Bank of China and signals the day before that the European Central Bank is leaning toward lower rates or more stimulus boost the argument that the world economy, and the US in turn, remains vulnerable and would not benefit from a higher US rate.

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