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2013-07-16 — nytimes.com
``Goldman clearly benefited from an improving economy in the second quarter. The period was dominated by a sudden and sharp rise in interest rates after the Federal Reserve indicated it might wind down its big bond purchase program, which has helped the economy recover from the financial crisis. Unlike JPMorgan Chase, Goldman is not a big player in originating residential mortgages, but it does trade mortgage products; the rise in rates can both help and hurt firms like Goldman, depending on the businesses they are in. ''
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