The Federal Reserve upgraded its assessment of the U.S.
economy today, but decided to skip another interest rate increase for now.
In a widely expected move, the central bank's policymaking
Federal Open Market Committee voted unanimously to keep the target range for
its benchmark rate at 1.75 percent to 2 percent.
However, the committee is widely expected to approve an
increase at the September meeting, and a tweak in the language from the
post-meeting statement could be a nod toward more monetary policy
normalization.
The statement said the labor market has "continued to
strengthen," language consistent with the June meeting.
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