The Federal Open Market Committee (FOMC) left interest rates unchanged during its meeting this week. The rates may be subject to increase in the future, but as for now, they are at 5.25-5.50%.

The FOMC is the policymaking body of the Federal Reserve System. It is responsible for determining the direction of monetary policy in the United States. The FOMC meets eight times a year to discuss the economy and to set interest rates. The committee meets one more time this year on December 12-13.

Peter Mauthe explains what the Fed discussed in this week’s meeting in the video below.

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