FOMC calls halt to cutting cycle

Federal Reserve

The Federal Reserve has halted its interest rate cutting cycle, leaving its target range steady at 1.5–1.75% today (December 11).

The Federal Open Market Committee was unanimous in its judgement that rates were “appropriate to support sustained expansion of economic activity”, the statement said.

“The labour market remains strong”, the committee said, adding that “economic activity has been rising at a moderate rate”.

In contrast to the FOMC’s October decision, when Esther George and Eric

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