Fed holds rates steady, sees more gradual hikes

June 15, 2016 6:00 PM

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The Federal Reserve held interest rates steady on Wednesday and predicted more gradual hikes the next few years amid somewhat slower economic growth.

In a statement after two-day meeting, the Fed didn't rule out a July rate increase but highlighted the recent downturn in job growth, possibly indicating a July move is a long shot..

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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