No Hike: Fed Leaves Interest Rates Unchanged

September 18, 2015 12:47 AM

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The Federal Reserve declined to raise its benchmark federal funds rate on Thursday, saying that uncertainty abroad, volatility in financial markets and stubbornly low inflation persuaded members that the U.S. economy is not yet growing strongly enough to merit a light tap on the brakes.

Speaking at a news conference shortly after the decision was announced, Fed Chairman Janet Yellen said that most members of the Fed's Open Market Committee remain persuaded that a rate hike will be appropriate before the end of the year.

Also read: ECB, keeping rates unchanged, stays quiet about future policy

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