Federal Reserve officials at the most recent meeting of the Federal Open Market Committee “expressed greater confidence” of a sustained economic recovery, strengthening gradually in the “coming quarters” based on economic indicators and business contacts, according to the minutes of the latest FOMC meeting, released Wednesday.

“Although business contacts remained somewhat cautious about the economic outlook, they generally indicated greater optimism regarding their own prospects for sales and hiring than at the time of the previous meeting,” the minutes noted.

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