The U.S. Federal Reserve announced Wednesday that it will not change short-term interest rates for now, though it indicated a shift in policy may come before year’s end.
In contrast to the tone the central bank set last month, the Fed’s policy committee did not repeat warnings that global developments may negatively impact the U.S. economy, Reuters reported.
“In determining whether it will be appropriate to raise [interest rates] at its next meeting, the [Fed] will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation,” the Fed said in its statement.
The Fed will hold its next meeting in December. [Reuters] – Rich Bockmann