The Federal Reserve left interest rates unchanged as largely anticipated at 0%-0.25%, announcing that the decision was unanimous and deems current economic conditions to likely warrant exceptionally low levels of the federal funds rate for an extended period. The Fed said that “information received since the FOMC met in June suggests that economic activity is leveling out” and that “conditions in financial markets have improved further in recent weeks”.
The Fed extended its asset purchase plan, which was set to expire in September, saying “the Committee has decided to gradually slow the pace of these transactions and anticipates that the full amount will be purchased by the end of October”.
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