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Fed leaves interest rates unchanged, implies one more hike ahead

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The Federal Reserve is keeping its fed funds target rate unchanged at a range of 5.25% to 5.50%. Officials see the top end of the range as 5.75%, implying one more rate hike is ahead. In the statement, the Federal Open Market Committee reiterated that inflation remains 'elevated' and that job growth has slowed, but remains 'strong.' Yahoo Finance Federal Reserve Reporter Jennifer Schonberger breaks down the Fed's statement. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.Canada's inflation rate jumps to 4%, making the BoC's next rate decision harder

OTTAWA — Canada's inflation rate has been rising for two consecutive months as underlying price pressures remain stubbornly high, a combination that makes the Bank of Canada's next interest rate decision more challenging. Statistics Canada released its latest inflation reading on Tuesday, which shows the annual rate rose to four per cent in August, up from 3.3 per cent in July. Forecasters were widely anticipating inflation to come in hotter last month due to higher gasoline prices.

 

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Stock market today: Asian shares weaker ahead of Federal Reserve interest rate decisionTOKYO (AP) — Asian shares were mostly lower in cautious trading Tuesday ahead of the Federal Reserve’s upcoming decision on interest rates. Japan's benchmark Nikkei 225 dropped 1.1% to 33,160.03. Australia's S&P/ASX 200 lost 0.5% to 7,196.70. South Korea's Kospi edged down 0.7% to 2,556.42. Hong Kong's Hang Seng slipped 0.2% to 17,893.99, while the Shanghai Composite fell 0.1% to 3,122.21. The Fed is due to wrap up a two-day meeting on Wednesday. Japan's central bank will meet Thursday-Friday as
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