FOMC shrugs off hurricane damage
Rates on hold as committee judges economy to have weathered damage from two hurricanes
The Federal Open Market Committee has left US interest rates on hold, deeming the economy to have withstood most of the effects of hurricanes Harvey and Irma.
The federal funds rate remains in the range of 1–1.25%, the FOMC says in a statement issued on November 1, following its latest two-day meeting.
The committee notes the hurricanes caused a drop in payroll employment in September, though unemployment continued falling, while an uptick in gasoline prices nudged inflation somewhat higher.
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