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Fed shows faith in U.S. economy with bond-buying reduction
Chicago Tribune: WASHINGTON (Reuters) - The Federal Reserve on Wednesday looked past a dismal reading on first quarter U.S. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus.
Recent information "indicates that growth in economic activity has picked up ... after having slowed sharply during the winter in part because of adverse weather conditions," the central bank said in a statement after a two-day meeting.
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