(CNBC) — U.S. equities closed lower on Wednesday after the Federal Reserve kept interest rates unchanged, while worries surrounding the presidential election weighed on investor sentiment.
"There's no surprises here. This meeting was about setting the mood music ahead of the December meeting. All the signs now point to a hike in December. The labour market is doing well, inflation is creeping up and growth is good," Luke Bartholomew, fixed income investment manager at Aberdeen Asset Management.
"However, there's the small matter of the US election to navigate in between now and the US Federal Reserve's next meeting. That's why the statement carries enough room for the Fed to wriggle out come December if economic and financial conditions change," he said.
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