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In a widely anticipated move, the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) Wednesday left its benchmark fed funds rate range steady at 5.25%-5.50%.

“Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation,” said the FOMC in its policy statement. “The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.”

 

The central bank’s nod towards risks to economic growth is nearly identical to that of its previous policy statement in September, suggesting that it will be incoming data that will decide whether there’s another pause or rate hike at its December meeting.

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