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Private apartments were also raided in Volkswagen's hometown of Wolfsburg and other cities, prosecutors told AFP, as police sought to secure documents and digital data that could point to those responsible for the deception of global proportions. The raids came as Volkswagen's US chief faced a grilling before Congress, where he told a committee that he knew more than a year ago that the group's cars possibly breached pollution rules. The German auto giant sank into the deepest crisis of its history after revealing that it equipped 11 million of its diesel vehicles worldwide with software that switches the engine to a low-emissions mode during tests.
By Jason Lange and Howard Schneider WASHINGTON (Reuters) - The U.S. Federal Reserve thought the economy was close to warranting an interest rate hike in September but policymakers decided it was prudent to wait for evidence a global economic slowdown was not knocking America off course. The minutes from the Sept. 16-17 meeting released on Thursday showed the Fed's policymaking committee was unsettled by signs of turmoil abroad but didn't think this had "materially altered" the outlook for the economy. "Nevertheless, in part because of the risks to the outlook for economic activity and inflation, the committee decided that it was prudent to wait for additional information," the Fed said in the minutes.