Fed leaves interest rates unchanged amid optimism US can avert recession

📆 9/20/2023 11:06 PM
📰 abc7newsbayarea

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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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Stock market today: Asian shares weaker ahead of Federal Reserve interest rate decisionAsian shares are mostly weaker in cautious trading ahead of the Federal Reserve’s looming decision on interest rates. Oil prices rose Tuesday.
Source: AP - 🏆 728. / 51 Read more »