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Yellen Rebuffs Pressure to Hike as Fed Gives Economy Room to Run

  • Fed Chair ‘generally pleased’ with how U.S. economy is doing
  • Dot plot shows Fed officials expect one rate hike this year
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Fed's Yellen: Threats to Financial Stability Are Moderate

Federal Reserve Chair Janet Yellen braved mounting opposition inside and outside the U.S. central bank and delayed an interest-rate increase again to give the economy more room to run.

While agreeing that the case for a rate rise had strengthened, Yellen on Wednesday argued that it made sense to put off a move for now amid signs that discouraged Americans who dropped out of the labor market are returning and looking for work.