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 Federal Reserve officials expect to raise short-term interest rates a bit faster in 2015 and 2016 than previously forecast and the central bank voted on Wednesday to reduce its bond-buying stimulus program again by $10 billion to $35 billion a month. The Fed now sees the key fed funds rate closer to 1.25% at the end of 2015, up from a prior forecast of 1%. The Fed also expects the rate to move up to around 2.5% by the end of 2016 instead of 2.25% as previously projected.

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