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Wall Street holds steady after Fed raises rates


By Lewis Krauskopf(Reuters) - U.S. stocks were little changed on Wednesday after the Federal Reserve made a widely expected move to raise interest rates for the second time in three months.The U.S. central bank cited continued U.S. economic growth and job market strength, as it proceeds with its first tightening cycle in more than a decade. The Fed also announced it would begin cutting its holdings of bonds and other securities this year.The Fed "met expectations and delivered a dovish hike," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, ...

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First Published: Thu, June 15 2017. 00:55 IST