FOMC leaves benchmark interest rate unchanged at target range of 2.00-2.25%
Following its 2-day meeting, the Federal Open Market Committee announced that it left the benchmark interest rate unchanged at the target range of 2% – 2.25% in a widely expected decision. Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, won’t be appearing at a news conference today.
Key highlights from the official statement (via Reuters)
The labor market has continued to strengthen and that economic activity has been rising at a strong rate.
Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier in the year.
In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 2 to 2-1/4 percent.
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