Fed keeps its key short-term rate at record low after slowdown in US job growth
WASHINGTON — The Federal Reserve is keeping its key short-term interest rate at a record low in the face of threats from a weak global economy and excessively low inflation. But it suggested the possibility of a rate hike in December.
A statement the Fed issued Wednesday said it would seek to determine "whether it will be appropriate to raise the target range at its next meeting" by monitoring the progress on employment and inflation. It marked the first time in seven years of record-low rates that the central bank has raised the possibility that it could raise its benchmark rate at its next meeting.