U.S. Fed set to raise interest rates, give more detail on balance sheet winddown | Reuters

By Lindsay Dunsmuir | WASHINGTON WASHINGTON The U.S. Federal Reserve is widely expected to raise its benchmark interest rate this week due to a tightening labor market and may also provide more detail on its plans to shrink the mammoth bond portfolio it amassed to nurse the economic recovery.The central bank is scheduled to release its decision at 2 p.m EDT (1800 GMT) on Wednesday at the conclusion of its two-day policy meeting

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