WASHINGTON - Most of the Federal Open Market Committee participants now view 2015 as the most appropriate time for tightening, with 12 of 19 members choosing that year as the right time for policy firming in the Fed's latest summary of economic projections released Thursday.

The projections represent a significant change from the previous release, when the anonymous Fed members were about evenly split between 2014 and 2015. One member selected this year as the right time to tighten policy, with three selecting 2013, two choosing 2014, and one member pushing the timeframe back to 2016.

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