Fed holds steady, rate-setters now see two hikes this year

March 16, 2016 6:51 PM

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WASHINGTON The Federal Reserve held interest rates steady on Wednesday and indicated that moderate U.S. economic growth and "strong job gains" would allow it to tighten policy this year, with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December.

The U.S. central bank, however, noted that the United States continues to face risks from an uncertain global economy.

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