Fed Hints at Upcoming Rate Hike

But leaves interest rates unchanged for now
By Newser Editors and Wire Services
Posted Nov 2, 2016 2:01 PM CDT
A television monitor on the floor of the New York Stock Exchange shows the decision of the Federal Reserve, Wednesday, Nov. 2, 2016.   (AP Photo/Richard Drew)

(Newser) – The Federal Reserve is leaving interest rates unchanged just days before Americans choose a new president, but hints again that it will likely raise rates at an upcoming meeting, the AP reports. The Fed says that the case for rate hike has "continued to strengthen" but that the panel decided to wait "for the time being" for further evidence of progress toward its objectives. Analysts and financial markets anticipate a rate hike in December. The Fed had been expected to leave rates alone Wednesday, in part to avoid any perception of affecting next week's vote. The statement the Fed issued closely tracked its September statement, noting that the labor market has continued to strengthen and economic activity has picked up. (Read more Federal Reserve stories.)

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