Economics
Fed Signals December Hike On Track a Day Before Trump Announces Next Chair
- FOMC leaves rates unchanged, repeats language on inflation
- Economic activity rising at ‘solid rate’ despite hurricanes
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Federal Reserve officials reinforced expectations for a December interest-rate increase by subtly upgrading their assessment of the U.S. economy, a day before President Donald Trump plans to unveil his choice to lead the U.S. central bank.
“Economic activity has been rising at a solid rate despite hurricane-related disruptions,” the Federal Open Market Committee said in a statement Wednesday following a two-day meeting in Washington at which they left rates unchanged as expected.