The Federal Reserve announced another pause on interest rate hikes during its November meeting on Wednesday, leaving the federal funds rate at a 22-year high of 5.25% to 5.5%.
In a statement, the central bank reaffirmed its commitment to bring inflation to a 2% target rate, and it would continue to assess economic indicators to determine if additional rate hikes are warranted.
The Fed cited moderating but still strong employment figures, the low unemployment rate, and still too-high inflation as recent indicators that suggest that economic activity expanded at a robust pace in the third quarter of this year.