9/22/2021, 8:00 PM (Source: TeleTrader)
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Fed keeps interest rate unchanged

The Federal Reserve announced on Wednesday it will leave the interest rate unchanged at 0.00-0.25% as expected, stating that it will maintain an accommodative stance until maximum employment and inflation goals are met.

The central bank reiterated that the indicators of economic activity and employment have continued to strengthen, noting that the renewed rise in COVID-19 cases has slowed the recovery. Inflation remains elevated, albeit the Federal Open Market Committee still sees the price increase as transitory.

Notably, the Fed said that if economic progress continues "broadly as expected" a "moderation in the pace of asset purchases may soon be warranted."

Baha Breaking the News (BBN) / MD