US Central Bank Keeps Benchmark Rate Unchanged as Focus Shifts to Next Fed Leader 1 234 567

US Central Bank Keeps Benchmark Rate Unchanged as Focus Shifts to Next Fed Leader

voanews.com

Officials of the U.S. central bank decided to keep the key U.S. interest rates steady at a relatively low 1-1.25 percent level Wednesday.In a statement, Federal Reserve officials left open the possibility of raising rates in December because of a "strong" labor market and “solid” economic activity.During the recession, the Fed cut the interest rate to historic lows in an effort to boost economic activity. Lower borrowing costs help to stimulate investment, but...

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