US Federal Reserve holds interest rates steady at its penultimate meeting of the year
Amman1 min read
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The Federal Reserve (the US central bank) decided to keep interest rates unchanged on Wednesday, as widely expected, preferring to postpone any change in borrowing costs until after the US midterm congressional elections scheduled for next week, pending further data on the path of inflation.
The US central bank said in a decision passed by a 10-2 vote that it would keep its benchmark interest rate within its current range of 3.75% to 4%.
It acknowledged that inflation "remains high," upgraded its assessment of economic performance, and hinted at the possibility of approving further interest rate hikes, depending on inflation developments.
