Meeting widespread expectations, the Federal Reserve chose to leave interest rates unchanged following a 10 to 2 vote. Interestingly, both of the dissenting voters were in favor of a rate hike. Rather than offering explicit forward guidance, the FOMC explained in its statement that gathering further information will assist the Committee in deciding the right policy approach to ensure a timely return of inflation to their 2 percent target. Public and market focus is now shifting over to the upcoming press conference with Chair Warsh.

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