December Fed Hike in View

The U.S. Federal Reserve held interest rates in a range of 3.75% to 4%, with 10 members voting to keep them unchanged and two favoring a 25-basis-point hike, as inflation remains above the 2% target. Markets expect another hike in December, with estimates putting the probability at 80% to 85%. Meanwhile, 16 of the 18 Fed officials expected rates to be raised at least once before the end of the year. Annual consumer price inflation stands at 3.7%, and the Fed said it would assess upcoming data on inflation, economic activity and the labor market before making its decision.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article