The Federal Reserve on Wednesday held off on raising its key interest rate, which plays a role in loans to consumers and businesses.
The Fed is sticking to the script it has been forecasting to financial markets, but it’s expected to raise rates twice more this year — on top of the increases it implemented in March and June.
In a statement after its two-day policy meeting, the Fed said “the labor market has continued to strengthen and that economic activity has been rising at a strong rate.” The Fed stuck to its target for the federal funds rate in a range between 1.75 percent and 2 percent.
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