On September 20, the Federal Reserve announced that it would slow down the pace of interest rate increases and keep the benchmark interest rate unchanged, which means that the federal funds rate target will remain unchanged in the range of 5.25% to 5.50%. It also hinted that borrowing costs may remain at a higher level for a longer period of time after another interest rate hike this year.
The Federal Reserve announced that it would keep its benchmark interest rate unchanged
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