Economic news

Fed holds U.S. interest rates unchanged

The U.S. Federal Reserve kept benchmark interest rate unchanged at 1 percent on Wednesday but hinted at one more hike by year-end.

The Federal Open Market Committee also said it would begin in October to reduce its $4.5 trillion balance sheet by $10 billion a month.

Fed Chair Janet Yellen stressed at the end of the meeting that the drop in inflation this year remained a mystery, while the economy is performing well.

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