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The Fed released its interest rate decision on Wednesday. The Fed kept its interest rate unchanged at 0.00%-0.25%. This decision was widely expected by analysts.
FOMC members voted 9-1 to keep interest rates unchanged. Only Richmond Fed President Jeffrey Lacker voted to raise interest rate by 0.25%.
The Fed pointed out that an interest rate hike in December is still on the table.
"In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation," the Fed said in its statement.
It seems that the Fed's assessment of current economic conditions changed as it removed the sentence "recent global economic and financial developments may restrain economic activity somewhat".
The Fed expects the U.S. economy to recover moderately, and the employment and inflation to move toward its targets.
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