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1/26, 8:00 PM (Source: TeleTrader)
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Fed holds interest rate, says hike coming 'soon'

United States Federal Reserve's Federal Open Market Committee (FOMC) announced on Wednesday that it will leave the target range for its key interest rate at 0% to 0.25%.

As the Fed determined that the inflation is "well above" 2% and that the labor market is "strong," the FOMC "expects it will soon be appropriate to raise the target range for the federal funds rate." The committee also confirmed that net asset purchases will end in early March.

"The Committee expects that reducing the size of the Federal Reserve's balance sheet" will begin after the central bank starts increasing interest rates again, the Fed said in a separate statement.

Baha Breaking News (BBN) / MS