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Fed Stays on the December Rate Hike Path
As widely expected, the Federal Open Market Committee (FOMC) decided in a unanimous vote to leave its federal funds target rate range unchanged at 2.00%-2.25%. This was the last FOMC meeting without a press briefing. As such, the market’s focus was entirely on the policy statement, with particular focus on the officials’ updated assessment of the U.S. economy and whether any new signals were being sent as to a change in the Fed’s projected pace of interest rate tightening–given the implicit acknowledgement last meeting that the funds rate may have entered neutral territory. With little change to the policy ... (full story)