Federal Reserve Votes to Keep Interest Rates Steady

On September 20, the Federal Reserve Board voted to keep the federal funds rate in the range of 5.25% and 5.5%, marking only the second meeting this year that the Fed opted to keep rates steady. The Fed’s post meeting statement was adjusted to reflect a cooling labor market and strong economic growth. Economic projections showed 12 of 19 officials expect to raise the policy rate once more this year.

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