The Globe and Mail reports in its Thursday, Sept. 21, edition that U.S. Federal Reserve officials left interest rates unchanged on Wednesday, but signalled support for one more rate increase this year. The Globe's Mark Rendell writes that the Federal Open Market Committee members voted unanimously to hold the benchmark Federal Funds rate between 5.25 and 5.5 per cent, the highest level since 2001. This is the second time the Fed has held off raising interest rates this year, as it nears the end of its historic campaign of monetary policy tightening. At the same time, new projections released Wednesday show that the majority of FOMC members expect to increase interest rates one more time before the end of the year, either in November or December. They also expect to keep interest rates higher for a longer period of time, with fewer rate cuts pencilled in over the next two years compared with the previous projection, published in June. Fed chairman Jerome Powell said: "We're in a position to proceed carefully at this point. A year ago, we proceeded pretty quickly to get rates up. Now we're fairly close, we think, to where we need to get. It's just a question of reaching the right stance."