As expected, the Federal Reserve opted not to raise interest rates hoping to keep inflation down in the flagging economy. The FOMC has announced it will keep its Federal Funds rate target at 5.25 percent.

The statement released today indicated that this was a pause rather than a halt in rate hikes and expressed the opinion that inflation pressures may moderate over time thus implying that rate hikes in the future cannot be ruled out.

The pause by the Fed was not unexpected by investors, although the possibility of future rate increases was disappointing and stocks slipped after the announcement.

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