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The first funerals for victims of the devastating earthquake that hit central Italy this week were held Friday as the country prepared for an emotionally charged day of mourning. British media, citing an official in Amatrice, said three Britons had died, including a 14-year-old boy. Romania reported two of its nationals, who were resident in Italy, had died.
Justifications for an interest rate increase in the United States have grown in recent months, US Fed chief Janet Yellen said Friday. In an address to a central banking symposium at Jackson Hole, Wyoming, Yellen took note of strong job growth, saying gradual increases in the Fed's benchmark rate in the coming years should be expected. "In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months," Yellen said, according to her prepared remarks.