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7/28, 8:00 PM (Source: TeleTrader)
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FOMC keeps interest rate steady

The Federal Reserve voted on Wednesday to leave the interest rate unchanged at 0.00-0.25%. In addition, the central bankers agreed to keep asset purchases the same.

The Fed stated that economic activity and employment indicators continue to strengthen with strong policy support and the advancement of coronavirus inoculations. The sectors most affected have still not fully recovered but have shown improvement. Inflation has risen, "largely reflecting transitory factors."

"The [Federal Open Market Committee] will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals," the central bank said in its statement.

Breaking the News / MD