FED DECISION: The U.S. Federal Reserve has unanimously voted to leave interest rates unchanged.
The "dot plot" of individual members' future projections indicated, on balance, no hike in 2020.
Concluding a year that saw the central bank take down its benchmark rate three times, the Federal Open Market Committee on Wednesday met widely held expectations and kept the funds rate in a target range of 1.5%-1.75%. "The Committee will continue to monitor the implications of incoming information for the economic outlook, including global developments and muted inflation pressures, as it assesses the appropriate path of the target range for the federal funds rate," the committee added.
Wednesday's projections saw a decided downward shift in the dots, with just four of 17 members anticipating one quarter-point move up in 2020. The FOMC operates under a dual mandate of full employment and price stability. Unemployment is running at a 50-year low and job creation is coming off a blockbuster November.
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