BREAKING: Federal Reserve Pauses Interest Rate Hikes
.webp "Federal Reserve Pauses Interest Rate Hikes") |
| Federal Reserve System |
Washington, D.C., November 1, 2023 - The Federal Reserve announced Wednesday that it would pause interest rate hikes for the second time in a row, keeping the target range for the federal funds rate at 5.25% to 5.50%.
The decision was widely expected, as the Fed has been facing increasing pressure from economists and investors to slow down its pace of tightening monetary policy. Inflation has been coming down in recent months, but it remains well above the Fed's target of 2%.
In a statement, the Fed said that the economy continues to grow at a strong pace and that the labor market remains strong. However, it also noted that inflation remains high and that there are "downside risks to the economic outlook."
The Fed's decision to pause interest rate hikes is a sign that it is becoming more cautious about the risks of a recession. However, it remains to be seen whether the Fed will be able to achieve its goal of bringing inflation under control without causing a significant slowdown in economic growth.
.webp "Federal Reserve Pauses Interest Rate Hikes") |
| Federal Reserve System |
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