Fed circles December for possible rate hike

Central bank holds interest rates steady at nearly zero.

The Federal Reserve kept interest rates close to zero for yet another meeting but said it would focus on its “next meeting” in mid-December on whether to raise interest rates.

In new language in the statement, the Fed said it would determine “whether it will be appropriate to raise the target range at its next meeting.” Previous statements have not had any time element to this statement, saying only that policymakers “would determine how long to maintain” rates close to zero.Read more