Federal Reserve Maintains Interest Rates Despite Inflation Concerns

The Federal Reserve has issued its FOMC statement, indicating that economic activity expanded strongly in the third quarter, although job gains have moderated. Inflation remains elevated, and tighter financial conditions are expected to impact economic activity, hiring, and inflation. The Committee will maintain the target range for the federal funds rate and continue to assess additional information for monetary policy decisions. The Committee is committed to returning inflation to its 2 percent objective and will adjust the stance of monetary policy if necessary.