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U.S. Stocks Slip After Fed Decision

U.S. stocks slid Wednesday after the Federal Reserve said it would raise interest rates and pencil in a fourth rate increase for this year. The Fed raised interest rates by another quarter-percentage point, bringing the benchmark federal-funds rate to a range between 1.75% and 2%. Eight of 15 Fed officials now expect at least four rate increases will be needed this year, compared with seven officials at the March meeting.