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Fed to Stress Patience on Scaling Back as Virus Threat Lurks, Dollar waits for Fed

(Bloomberg) -- With the delta variant posing a growing risk to the U.S. economy, Federal Reserve Chair Jerome Powell and his colleagues are likely to emphasize patience on scaling back the central bank’s massive policy support. The Federal Open Market Committee is all but certain to hold interest rates near zero at the conclusion of a two-day policy meeting on Wednesday and repeat a vow to keep buying bonds at the current $120 billion monthly pace. The panel will release a statement at 2 p.
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