Fed leaves interest rates unchanged, as expected
Source: CoinDesk ·
From the source
A rate hike in December remains likely as the U.S. central bank continues to focus on inflation, which remains well above its 2% target. As fully expected by markets, the U.S. Federal Reserve on Wednesday left benchmark interest rates unchanged, but signaled its intention to tackle stubbornly high inflation. The bank’s fed funds rate range, for now, remains at 3.75%-4.0%. “Economic activity is expanding at a strong pace,” said the bank in its policy statement. “While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.” “Inflation remains elevated. The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation to the Committee's 2 percent goal. The Committee will deliver price stability.” The…