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Fed holds interest rates, no hike, as expected

The Fed has raised benchmark rate four times this year

Published: November 1, 2023 2:25pm

Updated: November 1, 2023 2:28pm

The Federal Reserve on Wednesday kept its benchmark interest rates, as expected. 

The Fed held the rate amid a growing economy and labor market and inflation that remains about the central bank’s target. But additional increases also raise concerns about throwing the U.S. economy into a recession.

The Fed’s rate-setting group unanimously agreed to hold the key federal funds rate in a target range between 5.25%-5.5%, where it has been since July, according to CNBC.com.

This was the second consecutive meeting that the Federal Open Market Committee chose to hold, following 11 rate hikes, including four this year.

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