Federal Reserve leaves key interest rate unchanged amid signs inflation is starting to slow further [MSNBC.com]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
Company Research
Source: MSNBC.com
The Federal Reserve said Wednesday it was keeping its key interest rate unchanged as it continues to fight elevated inflation rates that pinch U.S. businesses and consumers.In its latest statement released WednesdayWhile inflation has eased over the past year, it said, remains elevated — though there has been "modest further progress toward the Committee’s 2% inflation objective."Indeed, signs of easing price growth have emerged, leaving some economic analysts to speculate that a rate cut could come prior to November's general election.The Fed is in charge of keeping inflation under control. It does this by managing the federal funds rate, which influences borrowing costs for everything else in the economy.For the past year, the Fed has held that rate at approximately 5.5%.By keeping interest rates elevated, the Fed hopes to reduce consumer demand for goods and services — and in turn slow price growth. When consumers find it easier to make purchases, businesses feel more comfortable r
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