The Federal Reserve announced it would not change its benchmark federal funds rate on Wednesday, keeping the rate at its highest level since 2001.
The Fed’s decision not to raise rates keeps the target range between 5.25% and 5.50%, marking the second meeting in a row where the Fed chose not to adjust the rate, according to an announcement from the Federal Reserve following a meeting by the Federal Open Market Committee. The Fed last hiked rates in July, marking the 11th increase to the federal funds rate since March 2022, in an effort to tame inflation. (RELATED: Truly Frightening: Halloween Candy Inflation May Be Scaring American Shoppers)
“The Committee will continue to assess additional information and its implications for monetary policy,” the Fed said in its announcement. “In determining the extent of additional policy firming that may be appropriate to return inflation…
