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*FED MEETS KEY POINTS*

# The Federal Open Market Committee votes 9-1 to keep the benchmark rate in a target range of 2.25% to 2.5%.

# The action sets up a possible confrontation between Fed Chairman Jerome Powell and President Donald Trump, who has been pressuring the Fed to cut rates.

# The Fed drops the word “patient” in describing its approach to policy.

# The central bank also leaves the door open somewhat to future cuts.

# Eight members favor one cut this year, while the same number votes in favor of the status quo and one still wants a rate hike. Powell says in a press conference some officials believe the case for accommodation has “strengthened.”