Wall Street rallies as clock ticks toward Fed decision

US stocks rallied over 1 percent on Tuesday after data showed healthy growth in consumer spending but did little to remove uncertainty about whether the Federal Reserve will raise rates this week. 
Speculation about when the Fed will end seven years of near-zero interest rates has dogged Wall Street for several months, with the picture complicated by recent market turbulence that some see as justification for the central bank to hold off.
 "The debate around the Fed continues, but the Fed will do more damage waiting for December to raise rather than start the normalization process," said Art Hogan, chief market strategist at Wunderlich Securities. 
"If they don't raise rates this week, it's a bad signal."

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