Business
US interest rates held steady and economy grows - what it means for you
The Federal Reserve's interest rate decisions affect everything from mortgages to car loans
BBC Business•
The decision comes within a week of the midterm elections and after the central bank raised interest rates for the first time in three years at its September meeting.
"The overwhelming consensus, the overwhelming judgement, is that what we've done in this monetary medicine is starting to work some," Fed Chair Kevin Warsh said, referring to September's interest rate rise.
Figures published after the Fed's announcement showed the US economy growing at a stronger pace than expected, with inflation running above the Fed's target.
The US economy grew by 3.4% on an annualised basis in the three months to September, stronger than analysts had expected.