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Fed upbeat on U.S. economy, cites strong job gains

By Michael Flaherty and Howard Schneider WASHINGTON (Reuters) – The Federal Reserve on Wednesday said the U.S. economy was expanding “at a solid pace” with strong job gains in a signal that the central bank remains on track with its plans to raise interest rates this year. The Fed repeated it would be “patient” in deciding when to raise benchmark borrowing costs from zero, though it also acknowledged a decline in certain inflation measures. After a two-day meeting of the Federal Open Market Committee, policymakers struck an upbeat tone on the U.S. economy's prospects and held to their view that energy-led weakness in inflation would dissipate. “The committee, in fact, was downright bullish on current economic conditions and the outlook,” said Paul Edelstein, director of financial economics at IHS Global Insight.

North Korea denies hacking Sony

By Jack Kim and Steve Holland SEOUL/WASHINGTON (Reuters) – North Korea has said U.S. accusations that it was involved in a cyberattack on Sony Pictures were “groundless slander,” and that it wanted a joint investigation into the incident with the United States. The United States stands by its assertion that North Korea was to blame, a White House National Security Council (NSC) spokesman said on Saturday, in response to the remarks. U.S. …

U.S. stocks needn’t fret about a government shutdown

By Rodrigo Campos NEW YORK (Reuters) – Investors may be tempted to shy away from stocks in the next week or two as the latest version of the fiscal follies plays out in Washington. It's understandable. The prospect of a government shutdown or, worse, default on the federal debt, rekindles memories of 2011 when Washington's infighting prompted the loss of the United States' triple-A credit rating and was a primary driver behind the stock market's last full-on correction. …