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Fed takes back seat to GDP, jobs

The Federal Reserve’s policy committee meets on Tuesday and Wednesday. Remarkably, no one will be paying much attention.

Wall Street thinks it has a pretty good handle on what the central bank is thinking.

The Fed revealed earlier this month in the minutes of the June 17-18 meeting of the policy committee that the extraordinary and controversial bond-buying program will end in October. In subsequent congressional testimony, Fed chair Janet Yellen made clear that she’s not worried by inflation, and that interest rates will stay ultralow even as economic growth picks up in the months ahead.