Fed Holds Rates Steady for First Time Since July
Officials offered little clarity on when cuts might resume. Two governors favored a rate reduction.
The Federal Reserve entered a new holding pattern on interest rates Wednesday and signaled little urgency to resume cuts after contentious reductions at officials' three previous meetings.
The decision to hold the benchmark federal-funds rate steady in a range between 3.5% and 3.75% was approved on a 10-2 vote.
Officials made fairly modest changes tothe post-meeting statement explaining their decision, retaining language that typically has signaled openness to further...
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