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Fed building in Washington (Photo: AP)

Federal Reserve officials left their benchmark interest rate unchanged as they flagged a moderating U.S. recovery and reiterated a pledge to use all available tools to support the economy during the coronavirus pandemic. They unanimously voted to keep the federal funds target rate in a range of zero to 0.25 percent, where it’s been since March.

The central bank’s policymaking body also repeated that it would maintain its bond-buying program at the current pace of $120 billion of purchases per month until “substantial further progress” toward its employment and inflation goals has been made. It made no changes to the composition of purchases.

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