Federal Reserve keeps interest rates at 22-year high

The Federal Reserve Open Market Committee decided to keep interest rates in a range of 5.25%-5.50%. In its statement, the Fed says "economic activity expanded at a strong pace in the third quarter" and that "job gains have moderated since earlier in the year but remain strong." The central bank also left the door open to future rate hikes, saying it is "highly attentive to inflation risks," noting that "inflation remains elevated." The decision was unanimous. Yahoo Finance Federal Reserve Reporter Jennifer Schonberger breaks down the statement. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.