Federal Reserve holds interest rates steady at a 22-year high as officials acknowledge the US economy is 'strong'

Trending 6 months ago
  •  Interest rates will stay astatine their existent level of betwixt 5.25 and 5%
  • Officials said nan determination to support rates dependable was driven by a 'strong' economy
  • However they near nan doorway unfastened to expanding early borrowing costs 

By Helena Kelly Assistant Consumer Editor For Dailymail.Com

Updated: 14:26 EDT, 1 November 2023

The Federal Reserve coming announced liking rates will stay astatine their existent level of betwixt 5.25 and 5.5 percent.

The much-anticipated determination is nan 3rd clip successful 7 argumentation meetings this twelvemonth that nan cardinal slope has not raised rates, slowing nan gait of increases to let clip to measure nan effect of its fierce thrust to dampen inflation.

Officials unanimously agreed connected nan determination to support rates successful their existent scope - wherever they person been since July - arsenic they acknowledged economical activity had remained 'strong' successful nan 3rd financial quarter.

This is simply a breaking news story, much to follow.


Copyright © PAPAREAD.COM 2024

U.S. NEWS