FEDERAL RESERVE HINTS AT INTEREST RATE CHANGE

The Federal Reserve said Wednesday that the U. S. economy is strengthening and making progress on the Fed’s employment and inflation goals, a small step toward dialing back its ultra- low- interest rate policies. The Fed’s statement said ongoing vaccinations were helping the economy. But in a nod to the delta variant, it dropped a sentence that had appeared in a statement after the last meeting that said vaccinations have reduced COVID- 19’ s spread. The central bank said it’s keeping its benchmark short- term rate pegged at nearly zero, where it has remained since the pandemic began in March 2020.