Fed leaves rates unchanged, says risks to outlook reduced

The Federal Reserve left interest rates unchanged on Wednesday but said near-term risks to the U.S. economic outlook had diminished, opening the door to a resumption of monetary policy tightening this year. The U.S. central bank said the economy had expanded at a moderate rate and job gains were strong in June. While Fed policymakers said they continued to closely monitor inflation data and global economic and financial developments, they indicated less worry about possible shocks that could pus