The Fed's interest rate pause, explained

For years, the Federal Reserve has been saying its decisions will be "data-driven." On Wednesday, the central bank made it clear it really, really means it.

Jerome Powell.

For years, the Federal Reserve has been saying its decisions will be "data-driven." On Wednesday, the central bank made it clear it really, really means it.

That afternoon, the Fed announced its interest rate target — currently at 2.25-to-2.5 percent — will hold until the next semi-regular meeting.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.