US Fed leaves rates unchanged at 5.50%, says economy is strong

HomeInternational NewsUS Fed leaves rates unchanged at 5.50%, says economy is strong

Published on

November 1, 2023

The Federal Reserve kept interest rates unchanged, but the policy statement left room for further rate increases in response to the surprising strength of the U.S. economy.
Economic activity expanded strongly in the third quarter, according to the Fed, upgrading from the “solid pace” mentioned in its September meeting.
The Fed is considering additional policy firming to return inflation to 2% over time, with strong job gains and elevated inflation.
Fed Chair Jerome Powell’s press conference is expected to provide more insights into the Fed’s future plans.
The statement recognized the impact of the Fed’s past rate hikes on economic activity and inflation, showing a degree of patience in deciding on further rate increases.