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  • UPDATE: Axe Found

    parade2014The axe has been found. The Axe has some scratches and needs to be fixed up a bit. It was found up by Lake Cushman Tuesday evening. No other details at this time. Previous Story:  Paul Bunyan lost his axe somewhere between… Read More +

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  • Ads To Start Monday for Initiative 591

    GUNTV and radio ads in support of a campaign to prevent the expansion of gun sale background checks begin next week, according to campaign supporters. Protect Our Gun Rights announced in an email Thursday that the ads would begin on Monday… Read More +

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  • Washington St Plays Rutgers

    goCOUGSRutgers' debut as a member of the Big Ten Conference will likely be Washington State's farewell to Seattle. The Cougars open the season with their annual game at Seattle's CenturyLink Field on Thursday night, hosting the Scarlet Knights in their first game after leaving the American Athletic Conference to join the Big Ten. For Washington State, this could be its final "home" game in Seattle.

    Read More
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Federal Reserve to Announce Reduction in Stimulus Program?

b_250_0_16777215_00_images_obgrabber_2013-09_25ca8b007e.jpgMark Wilson/Getty Images(WASHINGTON) -- The Federal Reserve on Wednesday is expected to make its first move toward slowing the economic stimulus that's been flowing since the financial crisis started five years ago. Following the Great Recession, the Fed implemented a bond-buying program to help give a lift to the economy.  The move kept interest rates as low as possible.

"The Federal Reserve came out and started buying mortgage-backed securities so as to give some sort of help in the housing market," Joe Deaux, an economics analyst for TheStreet.com, explains.

But that may all change on Wednesday, when economists predict the Fed will announce a new money policy.

"I think you're going to finally see some sort of drawdown -- how much, it's difficult to say," Deaux says.

He adds, "There are a number of people, including [Federal Reserve] Chairman Ben Bernanke, who've said, you know, at some point we do need to draw down these purchases, and -- and I think even the more dovish people will tell you that eventually yes, the Fed does have to do that."

Copyright 2013 ABC News Radio

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