Fed to shrink assets next month, boost rates by year-end

JANET YELLEN, chair of the U.S. Federal Reserve. / BLOOMBERG FILE PHOTO/CHRIS RATCLIFFE
JANET YELLEN, chair of the U.S. Federal Reserve. / BLOOMBERG FILE PHOTO/CHRIS RATCLIFFE
NEW YORK - Federal Reserve officials set an October start for shrinking their $4.5 trillion stockpile of assets, moving to unwind a pillar of their crisis-era support for the economy. They continued to forecast one more interest-rate hike later this year, saying storm damage will have only a temporary impact on the economy. “Hurricanes Harvey,…

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