The Federal Reserve held interest rates steady on Wednesday, Nov. 1, but left the door open to a further increase in borrowing costs.
The Fed acknowledged the U.S. economy’s surprising strength but also nodded to the tighter financial conditions faced by businesses and households.
In keeping the benchmark federal funds rate in the 5.25% to 5.5% range, the Fed’s decision may indicate its two-year rate hiking campaign is winding down. However, it did not rule out another rate hike this year.