Fed keeps rates on hold

The Federal Open Market Committee (FOMC) opted on Wednesday to hold rates for the first time since August following a sequence of eight straight cuts.

Nine of the ten committee members backed the decision. Richard Fisher, the president of the Dallas Fed, dissented in calling for a rate rise. Fisher has voted against the majority on the last four occasions.

"Recent information indicates that overall economic activity continues to expand, partly reflecting some firming in household spending," t

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