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    Fed Maintains Efforts To Stimulate Economy

    Top officials of the U.S. central bank have decided to maintain their efforts to stimulate the economy as it recovers from the worst recession in decades.

    The U.S. Federal Reserve has been buying $85 billion a month in securities in an effort to reduce long-term interest rates. Lower rates make it easier for companies to buy new equipment and for families to buy new homes.

    Many economists had been predicting that the Fed would cut back those purchases.

    The U.S. economy has been improving, but job growth has been slow in recent months, and some workers have given up their search for employment. The country's jobless rate has fallen to 7.3 percent. While that is the lowest since late 2008, it is still well above the historical norm of less than 6 percent

    Fed officials concluded the economy still needs support.

    Fed officials have also been trying to bolster economic growth by pushing short-term interest rates nearly to zero. They have said they will keep short-term rates ultra low for the time being.

    The Fed has to strike a careful balance in stimulus efforts. If they cut back too soon, the world's largest economy could fall back into recession. If they over-stimulate the economy, they raise the risk that inflation could cause serious problems.

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    Ivorian Chocolate Makers Promote Locally-made Chocolatei
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    July 29, 2016 4:02 PM
    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
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    Video Ivorian Chocolate Makers Promote Locally-made Chocolate

    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
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