Fed says risks to US economy have diminished as it leaves rate unchanged

By Craig Torres
Updated July 28 2016 - 7:08am, first published 6:04am
The unexpectedly long pause in interest-rate increases has suggested Fed chair Janet Yellen is waiting for overwhelming evidence of a strong economy and for international risks to subside. Photo: Andrew Harrer
The unexpectedly long pause in interest-rate increases has suggested Fed chair Janet Yellen is waiting for overwhelming evidence of a strong economy and for international risks to subside. Photo: Andrew Harrer

The Federal Reserve left interest rates unchanged while saying risks to the US economy have subsided and the labour market is getting tighter, suggesting conditions are getting more favourable for an increase in borrowing costs.

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