The Federal Reserve, faced with a series of shocks to the U.S. financial system, left interest rates unchanged Tuesday but said it’s watching developments “carefully” — signaling a willingness to take action if necessary.
The U.S. central bank, in a statement after its meeting, said “strains in financial markets have increased significantly and labor markets have weakened further.”
The central bank’s policy committee voted unanimously to leave the federal funds rate, at which banks lend to each other overnight, unchanged at 2%. It was the first fully unified vote since last September.
Prime Rate remains at 5%.
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