Economics
Fed Holds Rates Unchanged Ahead of Expected December Hike
- FOMC reiterates outlook for ‘further gradual’ rate increases
- Acknowledges drop in jobless rate, slower business spending
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The Federal Reserve left interest rates unchanged and stayed on course to hike in December despite recent jitters in financial markets and a critical president.
The U.S. central bank said “economic activity has been rising at a strong rate” and job gains “have been strong,” acknowledging a drop in the unemployment rate, while repeating its outlook for “further gradual” rate increases in its statement Thursday following a two-day meeting in Washington.