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The move marked a watershed moment for policymakers as they take steps to sustain the longest expansion on record.
Trump has stepped up his attacks on the central bank as his trade wars threaten to hurt the economy in the run-up to the 2020 elections.
The Federal Reserve is expected to leave borrowing costs unchanged at the end of a two-day policy meeting Wednesday.
The Federal Reserve is expected to leave borrowing costs unchanged at the end of a two-day policy meeting Wednesday even as the White House steps up pressure to lower them.
Chinese stocks slipped, Europe was mixed, and US futures gained before the Fed decision. Investors are navigating a minefield of market catalysts.
This was the Federal Reserve's most anticipated interest-rate decision and press conference in recent memory.
Traders are certain that the Federal Reserve will raise interest rates in December — a decision that would quickly lift borrowing costs for Americans.
The Federal Reserve held its benchmark interest rate unchanged Wednesday and reaffirmed its plans to continue raising borrowing costs at a gradual pace.
The Federal Open Market Committee released its quarterly "dot plot," showing where Fed members expect rates to go over the next few years. The median member predicts rates will be between 2.25% and 2.5% at the end of 2018.
This was the seventh interest-rate hike since late 2015, when the Federal Reserve first began lifting interest rates from almost zero. It kept borrowing costs that low after the financial crisis to encourage businesses and consumers to spend and grow the economy.