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Economic Buzz: Fed Holds Rates, Says Labor Market Continued To Strengthen
09-Nov-18   09:35 Hrs IST

The US Federal Reserve on Thursday left key interest rates unchanged and kept the central bank on track to have one more rate hike in December.The Fed decided to maintain the target range for the federal funds rate at 2 to 2.25% and noted that the US labor market has continued to strengthen and the economic activity has been rising at a strong rate since its last policy meeting in September, when it raised rates for the third time of the year. While household spending has continued to grow strongly, growth of business fixed investment has moderated from its rapid pace earlier in the year, the Fed stated, adding both overall inflation and so-called core inflation for items other than food and energy remain near the central bank's target of 2%.

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