Fed holds rates at 3.75%-4.00% as expected at October FOMC; Cook and Hammack dissent in favor of a hike

The Federal Reserve held interest rates unchanged at 3.75%-4.00%, as expected, at its October FOMC meeting in a 10-2 vote. Lisa Cook and Beth Hammack dissented in favor of a hike, Cook's first dissent since joining the Board in 2022. The statement said inflation remains 'elevated' and the economy is growing at a 'strong pace'. Markets price about an 85% chance of a December hike.

Detected & updated continuously · Source: Nebula