Fed Reserve Chair Jerome Powell speaks at a news conference last month. Photo: Mark Wilson/Getty Images
The Federal Reserve said that U.S. business investment growth has "moderated from its rapid pace earlier in the year," in a statement released Thursday alongside an announcement that the central bank would not raise interest rates.
- The Fed maintained its overall rosy outlook of the economy, signaling one more rate hike for this year in December.
Why it matters: This is a departure from the Fed's September's statement, and reflects a Commerce Department report showing the business investment growth fell from 8.5% in Q2 to 0.8% in Q3.