WASHINGTON-In its meeting on Sept. 16, the Federal Open Market Committee decided to maintain the 1% target for the federal funds rate. "The Committee continues to believe that an accommodative stance of monetary policy, coupled with robust underlying growth in productivity, is providing important ongoing support to economic activity," the FOMC said in a statement. Since the last meeting, data show that "spending is firming, although the labor market has been weakening. Business pricing power and increases in core consumer prices remain muted."
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