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The Conference Board's gauge of current consumer sentiment increased to 102 in May, from an upwardly revised 97.5 in April.

"The odds of us raising rates are quite low, but I don't want to take anything off the table."

BlackRock's LifePath Paycheck offering gives participants in defined-contribution plans access to guaranteed income through a target-date fund.

"I still don't see the data that's compelling to see we're going to cut rates here."

FOMC officials believe interest rate policy is "well-positioned" but mentioned a willingness to tighten further if warranted.

"The Antitrust Division sends a powerful message to America's monopolists: If you break the law, you will face a formidable opponent in court."