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Wall St. rises as Fed signals gradual approach to rate hikes


By Kimberly Chin(Reuters) - U.S. stocks rose on Wednesday afternoon after Federal Reserve Chair Janet Yellen said interest rates hikes would be gradual and rates will not have to rise much further to reach a neutral level.Yellen, in testimony to Congress, said the Fed will continue to gradually tighten policy and gradually unwind its massive balance sheet. A neutral interest rate level refers to one that neither encourages nor discourages economic activity. Investors cheered Yellen's dovish tone. Investors and some Fed officials have been concerned with the recent dip in inflation."People ...

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First Published: Thu, July 13 2017. 01:06 IST