Interest Rates

By: Associated Press
By: Associated Press

The Federal Reserve has decided to keep interest rates steady. The central bank's policy setting session has the effect of leaving the benchmark federal funds rate unchanged at one and three-quarters percent, a four-decade low.

In its statement, the Fed said risk of economic weakness continues to be greater than the threat of accelerating inflation.

Two of 12 panel members dissented, wishing that rates would have been cut.

The open market committee's next meeting is scheduled for Nov. 6, a day after the general election.

The decision was as expected.

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