Fed Stays in Holding Pattern with Rates and Asset Purchases Unchanged

(Bloomberg)—Federal Reserve officials kept monetary policy in a holding pattern, leaving interest rates near zero and making no change to asset purchases, as the final results of U.S. presidential and congressional elections remain uncertain.
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“Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year,” the Federal Open Market Committee said in a statement Thursday following a two-day meeting, largely repeating language on the economy they’ve employed since July. That marked only a slight tweak from the previous statement saying the economy and jobs had “picked up in recent months.”

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