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Cautious approach on rates allows time to assess if economic growth is rebounding and if outlook for labor market, inflation will improve
Available indicators point to 'noticeable step-up' in Q2 GDP. Consumer spending helped by solid income growth
Fed to assess whether growth, jobs and inflation will gain
China faces significant challenges to rebalancing
Pickup in household spending makes her optimistic that jobs market and overall economy will improve over next few months
Reiterates that FOMC expects to gradually raise rates
Tentative signs of wage growth finally picking up
Watching jobs market carefully to see if slowdown transitory
Stock market forward P/E ratios well above three-decade median.
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