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No Surprises As The Fed Keeps Rates Where They Are

The Federal Open Market Committee (FOMC) decided to keep the federal funds interest rate where it has been since last July, in the 5.25%-to-5.5% range. Of course, that came as no surprise to many.

In addition to noting that the economy has continued to expand at a “solid pace,” job gains have remained strong, and unemployment has stayed low, the committee added that “there has been a lack of further progress toward the… 2% inflation objective” in recent months.

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