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Fed leaves key interest rate unchanged, citing low inflation

Fed leaves key interest rate unchanged, citing low inflation

The Federal Reserve ended weeks of speculation Thursday by keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial markets.

But at a news conference after a Fed policy meeting, Chair Janet Yellen said a rate hike was still likely this year. A majority of Fed officials on the committee that sets the federal funds rate — which controls the interest that banks charge each other — foresee higher rates before next year. The Fed will next meet in October and then in December.

"Every (Fed) meeting is a live meeting," Yellen said. "October, it remains a...

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