Federal Reserve Leaves Rates Unchanged

by Dunstan Prial  |  published on October 28, 2015

The Federal Reserve on Wednesday in a move widely-expected voted to keep interest rates at their current near-zero level, delaying for at least another six weeks a vigorously-debated decision on raising borrowing costs for the first time in nearly a decade.

The policy-setting Federal Open Market Committee, citing a weak month of job creation in September, said it “remains appropriate” to keep the short-term federal funds rate at 0%-0.25%, where it’s been held since December 2008.

The statement give no obvious clues as to whether the Fed is strongly considering raising rates at its December meeting. A handful of influential FOMC members, including Fed Chair Janet Yellen, Vice Chair Stanley Fischer and New York Fed President William Dudley, have maintained in recent public statements that the Fed still hopes to raise rates in 2015.

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