The Federal Reserve kept interest rates unchanged at Wednesday’s meeting and touched on the strong economic growth of the United States and the strengthening of the labor market, while avoiding the impact of the recent hurricanes that hit parts of the country. He pointed out that the Council is moving in the right direction to raise interest rates at its last meeting this year in December.<\/p>\n
Markets and investors have ruled out any moves towards interest rates at the monetary policy meeting this week. The focus was largely on who will be the one to take over the presidency of the Council and monetary policy in February, at the end of the current president\u2019s term, Janet Yellen.<\/p>\n
After the meeting, the council stated that the labor market has continued to grow, and economic activity has increased at a strong rate, despite the hurricane-related unrest.<\/p>\n
The Reserve Board noted that inflation was weak but it did not reduce its expectations. The unemployment rate has also declined, according to the council’s statement.<\/p>\n
The council has raised interest rates twice this year and is expected to do so again by December. If Jerome Powell, who has supported a gradual “softening” of interest rates, would be chosen as chairman of the Federal Reserve, it would be an indication that monetary policy would continue on its current path, gradually moving towards higher interest rates.<\/p>\n
Janet Yellin, the current president of the council, as well as some other economic policy makers, said the council still expects to continue to raise interest rates gradually because of macroeconomic strength.<\/p>\n
The government said last week that the economy grew 3.0% annually in Q3.<\/p>\n","protected":false},"excerpt":{"rendered":"
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