In keeping with that encouraging tone, the central bank's policymakers acknowledged that inflation remained soft but did not downgrade their assessment of pricing expectations. The Fed also said on Wednesday it was proceeding with the reduction of its $4.2 trillion in holdings of Treasury bonds and mortgage-backed securities, a process which began in October.
Fed keeps rates unchanged, remains on road to December rate hike
The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth and a strengthening labor market while playing down the impact of recent hurricanes, a sign it is on track to lift borrowing costs again in December. "The labor market has continued to strengthen and ... economic activity has been rising at a solid rate despite hurricane-related disruptions," the Fed's rate-setting committee said in a statement after its unanimous policy decision.
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