Federal Reserve leaves key rate unchanged but hints at upcoming hike

FILE PHOTO - In this Sept. 28, 2016 file photo, Federal Reserve Board Chair Janet Yellen testifies on Capitol Hill in Washington before the House Financial Services Committee.   The Federal Reserve left interest rates unchanged Wednesday, Nov. 2, six days before Americans choose a new president, but hinted again that it would likely raise rates soon.  The Fed said that the case for rate hike has “continued to strengthen” but that it had decided to wait for further evidence of progress toward its objectives. 
(AP Photo/Pablo Martinez Monsivais)
FILE PHOTO - In this Sept. 28, 2016 file photo, Federal Reserve Board Chair Janet Yellen testifies on Capitol Hill in Washington before the House Financial Services Committee. The Federal Reserve left interest rates unchanged Wednesday, Nov. 2, six days before Americans choose a new president, but hinted again that it would likely raise rates soon. The Fed said that the case for rate hike has “continued to strengthen” but that it had decided to wait for further evidence of progress toward its objectives. (AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) – The Federal Reserve is leaving interest rates unchanged just days before Americans choose a new president, but hints again that it will likely raise rates at an upcoming meeting.

The Fed says that the case for rate hike has “continued to strengthen” but that the panel decided to wait “for the time being” for further evidence of progress toward its objectives.

Analysts and financial markets anticipate a rate hike in December. The Fed had been expected to leave rates alone Wednesday, in part to avoid any perception of affecting next week’s vote.

The statement the Fed issued closely tracked its September statement, noting that the labor market has continued to strengthen and economic activity has picked up.

 

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