Fed Holds Rates Steady, Signals More Rate Increases Ahead

WASHINGTON—The Federal Reserve held short-term interest rates steady Thursday and offered a mostly upbeat assessment of the U.S. economy, suggesting another rate increase is likely by year-end.

The Fed repeatedly emphasized the economy’s strength in a statement released after its two-day policy meeting. It offered nothing to dispel market expectations that it would deliver its fourth rate rise of the year in December.

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