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Fed keeps gradual rate hikes amid higher energy and jobs gains
Fed minutes indicate policymakers may continue 25 basis point increases as energy prices climb and the job market strengthens, though competition from foreign firms tempers inflation. The August move lifted the federal funds rate to 3.50 percent, with later hikes anticipated to reach about 4.25 percent by year end. Greenspan warned housing gains may slow, tempering consumption.
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Alan Greenspan