US Federal Reserve: Economy still growing at 'solid pace' despite hurricanes

WASHINGTON: The Federal Reserve kept its key policy interest rate unchanged Wednesday, and downplayed the hurricane impact on the US economy, saying it was growing at a "solid pace."

Overshadowed by President Donald Trump's looming announcement of his pick to lead the central bank starting next year, the Fed stuck to the expected course, holding the benchmark lending rate at 1.0 to 1.25 percent.

The statement gave few signals on what the Fed will do in December, when it is widely expected to raise rates one last time to head off inflation it sees rising only in the medium term.