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Fed officials lay out case for December lift-off

There is broad consensus at the Fed that rates would move slowly after initial rise

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EYEING HIGHER RATES AHEAD: The US dollar has risen about 15 per cent since mid-2015 as the Fed started its long march to a rate hike, as other major central banks added stimulus, and as investors crowded into US-denominated assets in the face of slowdowns elsewhere.

Washington

US FEDERAL Reserve officials lined up behind a likely December interest rate hike with one key central banker saying the risk of waiting too long was now roughly in balance with the risk of moving too soon to normalise rates after seven years near zero.

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