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The Federal Reserve said Thursday that it is not going to raise the federal funds rate this month, citing the fact that the country’s economy still has not met the targets laid out by the Federal Open Markets Committee.

In a statement released Wednesday by the Fed, the FOMC members said that in an effort to “support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4% target range for the federal funds rate remains appropriate.”

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