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US data better, but Fed likely to hold off on rate rise

Evidence is piling up that the US economy is rebounding from the past few months' stall, with consumers spending more, a rebound in job creation, and wages beginning to riseEvidence is piling up that the US economy is rebounding from the past few months’ stall, with consumers spending more, a rebound in job creation, and wages beginning to rise. The Federal Open Market Committee meets on monetary policy on Tuesday and Wednesday, about the very time that, a year ago, it expected to be announcing a rise in its benchmark federal funds rate. The rate has sat at an extraordinarily low zero percent since 2008 in an effort to rebuild the US economy from the Great Recession with a flood of cheap dollars.

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