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FRANKFURT/WASHINGTON (Reuters) - The three largest German automakers said they will recall 2.5 million vehicles in the United States equipped with Takata Corp air bags, the latest moves in a long-running safety crisis involving the Japanese automotive supplier. On Wednesday, Volkswagen AG said it would recall 850,000 vehicles and BMW said it would recall 840,000 vehicles. The vehicles to be recalled have Takata-made air bag inflators that the Japanese supplier declared defective last month, affecting 5.1 million vehicles in the United States.
The Fed expects economic growth to pick up in the current quarter, which would allow it to pursue its plan of "gradual" adjustments to monetary policy, she said. Fears of a China-led global economic slowdown and oil's steep slide since the Fed raised rates in December have dampened the market's expectations for a hike in coming months. "What Yellen said has been taken positively," said Richard Sichel, chief investment officer of Philadelphia Trust Co in Philadelphia.