Fed less positive but leaves rate unchanged


The Federal Open Market Committee voted to keep monetary policy unchanged at the conclusion of its two-day policy meeting on Wednesday and will maintain a federal funds target rate range of 0% to 0.25%. The FOMC noted "the economic recovery is continuing at a moderate pace, though somewhat more slowly than the Committee had expected." The FOMC also acknowledged the moderation in labour market growth with today's statement conceding recent labour market indicators have been weaker than anticipate

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