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US Federal Reserve keeps key interest rate on hold

Federal Reserve Chair Janet Yellen speaks during a press conference following the announcement that the Fed will leave rates unchanged, in Washington, DC, September 21, 2016The Federal Reserve kept its benchmark interest rate unchanged for the sixth straight meeting Wednesday, saying it needs to see a bit more sign of strength in the US economy. While hailing a pickup in activity since the sluggish first half of the year, the US central bank showed uncertainty about some persistent weak signs in the economy, and cut its 2016 growth forecast to 1.8 percent, down from 2.0 percent in June. For the time being, though, they said they still needed more evidence that the economy was headed to full employment, as the jobless rate sits at 4.9 percent, and that inflation would pick up and move toward their 2.0 percent target.

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