Fed holds rates, says more data will help next decision
New Delhi, Oct. 29 -- Federal Reserve officials left interest rates unchanged and reiterated their commitment to containing inflation, but without offering a clear signal they might raise rates at their next meeting in December.
"The accumulation of more information will help the committee determine the policy stance appropriate to ensure a timely return of inflation to the committee's 2% goal," policymakers said Wednesday in a post-meeting statement. "The committee will deliver price stability."
The Federal Open Market Committee voted 10-2 to hold its benchmark federal funds rate in a range of 3.75% to 4%. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, preferring to raise rates by a quarter percentage point.
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