The Federal Reserve on Wednesday continued its slow march toward higher interest rates, signaling that it remains on track to raise its benchmark interest in December for the first time this year but holding off on an increase this month.
After a two-day meeting of its policy-making committee, the Fed delivered the expected news that it would not adjust rates during the final days of a contentious presidential election. But the Fed’s post-meeting statement reinforced expectations that Fed officials do not plan to wait much longer.