Fed leaves interest rates unchanged for now, increase is likely in September; upgrades view of the US economy to ‘strong’

The Federal Reserve upgraded its assessment of the U.S. economy Wednesday but decided to skip another interest rate increase for now.
In a widely expected move, the central bank’s policymaking Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent.
However, the committee is widely expected to approve an increase at the September meeting and a tweak in the language from the post-meeting statement could be a nod toward more monetary policy normalization.

Read more: CNBC.