Fed holds rates steady again
The Federal Open Market Committee (FOMC) chose to maintain its target for the fed funds rate unchanged after its meeting on October 31 and November 1. The decision was unanimous.
The Fed’s rate target remains between 5.25 and 5.5%, a 22-year peak. The committee also voted unanimously to maintain the primary credit rate at 5.5% and the interest paid on reserves at 5.4%.
The FOMC also held rates steady at its September committee meeting. From March 2022 to July 2023 the Fed raised rates at every
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