Fed Keeps Rates Unchanged

July 27, 2016 6:34 PM

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The Federal Reserve announced today that it will not raise the interest rate, staying the course amid a disappointing earnings cycle and a post-Brexit landscape. Central bank officials were meeting this week for the first time since Britain jostled the markets by voting to pull out of membership in the European Union.

In its statement released on Wednesday after the two-day meeting, the Federal Open Market Committee noted a stronger labor market and diminished "near-term risks to the economic outlook."

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