Fed leaves interest rates unchanged amid optimism US can avert recession

📆 9/20/2023 10:36 PM
📰 ABC7Chicago

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The Federal Reserve is aiming to bring down inflation while averting a recession.

The Federal Reserve left its benchmark interest rate unchanged on Wednesday, pausing an aggressive

Meanwhile, inflation stands well below its peak last year of over 9%, but remains more than a percentage point higher than the Federal Reserve's target rate. The decision to hold interest rates steady affords policymakers time to weigh their next move as a rapid series of previous rate hikes takes full effect.

Still, resilient economic performance has elicited a surge of optimism about the possibility that the U.S. can reduce inflation without falling into a recession.

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