Fed Keeps Interest Rates Steady but Affirms Plan to Pursue Increase

March 16, 2016 6:01 PM

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Fed Keeps Interest Rates Steady but Affirms Plan to Pursue Increase

WASHINGTON — The Federal Reserve took its finger off the pause button on Wednesday, signaling that it plans to resume increasing its benchmark interest rate in the coming months.

The Fed, in a statement after a two-day meeting of its policy-making committee, said the domestic economy seemed little harmed by the recent turmoil in financial markets.

Also read: ECB Extends but Scales Back Stimulus, Whipsawing Markets

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