Amid A Swirl Of Controversy, Fed Policy Remained Stable

Despite the double-digit plunge in stock prices and unusual rebukes by the President, the Federal Reserve Board just repeated its long-held strategy for controlling rates and inflation.

Using almost the exact same words as in September to describe the outlook, the Fed monetary statement said nothing had changed.

Two days after pivotal midterm federal elections and two weeks after an 11% drop in the Standard & Poor’s stock index, amid a swirl of controversy, Fed policy remained stable.

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