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Federal Reserve Takes a Break, but It Sees Higher Rates Ahead

Policymakers Agreed To Leave Interest Rates Unchanged After 10 Consecutive Increases

Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting. (Bloomberg via Getty Images)
Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting. (Bloomberg via Getty Images)

After raising its overnight lending rate by 500 basis points over 10 consecutive meetings, the Federal Reserve’s policy-setting committee voted unanimously to leave its target rate unchanged, at least for now, at 5.00-5.25%.

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