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Federal Reserve Leaves Door Open for June Rate Increase

  • Benchmark interest rate left unchanged at 0.25%-0.5% range
  • Policy makers omit mention of risks in global economy, markets
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Fed Leaves Benchmark Interest Rate Unchanged

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Federal Reserve policy makers left open the door to raising interest rates in June by nodding to improvement in global financial markets and downplaying recent weakness in the U.S. economy.

The Federal Open Market Committee omitted previous language that “global economic and financial developments continue to pose risks,” instead saying officials will “closely monitor” the world situation, according to a statement released Wednesday following a two-day meeting in Washington. The Fed left its benchmark interest rate unchanged.