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9/20/2023, 8:00 PM (Source: TeleTrader)
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Fed leaves key rate unchanged at 5.25%-5.50%

United States Federal Reserve's Federal Open Market Committee (FOMC) announced on Wednesday that the members unanimously agreed to hold the main interest rate at between 5.25% and 5.50%.

According to the Fed, the economic activity in the country has been "expanding at a solid pace," while the job gains, although remaining strong, have slowed in recent months, and the unemployment rate continued to be low. Inflation is still seen as "elevated."

The central bank reaffirmed that it will continue to monitor and assess additional information in order to choose the best monetary policy path. It will also continue slashing its balance sheet as previously planned.

Baha Breaking News (BBN) / AY