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Yellen downplays dissent as Fed holds key interest rate steady

Yellen downplays dissent as Fed holds key interest rate steady

Federal Reserve policymakers held off on an interest rate increase Wednesday with a rare level of dissent amid some lackluster economic data but signaled a rate hike is coming before the end of the year. 

Fed Chairwoman Janet L. Yellen also said regulators will be looking at Wells Fargo & Co.’s bogus-accounts scandal to make sure large banks have safeguards to prevent such abuses, even though the agency doesn’t have a direct role in retail-bank regulation.

Yellen said Fed officials have been “distressed” to see how some banks respond to problems, such as the improper sales tactics at Wells Fargo that led employees to open as many as 2...

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