Key Points:
The Federal Reserve has decided to pauses interest rates.
Benchmark overnight interest rate unchanged (5.25%-5.50%)
Inflation and the job market have both slowed steadily in the past year, giving the Fed enough room to hold rates steady and wait for more data to come in.
US debt rises to $33 trillion
Previously the Federal Reserve had said that recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low.
Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams,
Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Austan D. Goolsbee; Patrick
Harker; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; and Christopher J. Waller.

More to follow...