Fed holds rate at 2.0 percent
The Federal Reserve, navigating treacherous economic waters, decided on Wednesday to leave a key interest rate unchanged, bringing an end to a string of consecutive rate cuts. The central bank announced that it was keeping the federal funds rate, the interest rate that banks charge each other, at 2 percent, marking the first time in 10 months that the central bank has failed to reduce interest rates at one of its regular meetings. The fed also spoke about inflation risk and a possible rebound in the economy.
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