The United States Federal Reserve Open Market Committee (FOMC) has maintained an interest rate range of 5.25%-5.50%.
Interest Rate Kept in the 5.25% to 5.5% Range
The Fed Reserve voted to keep the interest rate unchanged, keeping the interest rate standing at a 22-year high. At the same time, the door is left open for a surge in borrowing costs, according to a policy statement that acknowledged the U.S. economy’s surprising strength. Meanwhile, it also nodded to the tighter financial conditions faced by businesses and households.
“Economic activity expanded at a strong pace in the third quarter,” the U.S. Federal Reserve noted. The recent rate decision also gives policymakers time to “assess additional information and its implications for monetary policy.”
On the other hand, there are some speculations that the pause in the hike of interest rates may be the birth of a stronger hike in the future. Financial conditions are tightening on their own and this points to a stronge
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