Thursday, September 17, 2015

Federal Reserve keeps key interest rate at zero, citing global turmoil

Federal Reserve keeps key interest rate at zero, citing global turmoil
The Federal Reserve on Thursday voted to maintain its unprecedented support for the U.S. recovery, leaving a key interest rate unchanged amid gathering clouds over the global economy.

In an official statement, the nation’s central bank said the job market is recovering and hiring is “solid.” But it expressed concern that inflation remains too low and exports have weakened. Meanwhile, the risk is building that turmoil overseas will drag down growth in America.

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