The Federal Reserve, after a two-day meeting, decided to keep interest rates steady within the range of 5.25-5.50%. The central bank acknowledged the US economy’s surprising strength, citing that economic activity expanded at a strong pace during the third quarter. However, the statement also recognized the tighter financial conditions faced by businesses and households. This decision marks an upgrade from the previous meeting, where the Fed described the pace of activity as solid. While interest rates were unchanged this time, the central bank left the door open to a potential increase in borrowing costs in the future.