$AAPLB Fed held the rate at 3.75%–4%
This Wednesday (10/28), the FOMC voted 10 to 2 to keep the federal funds rate in the *3.75% to 4% range.
- The economy remains strong (robust growth, high productivity, and solid investment).
- Inflation remains elevated.
- Dissenters: Lisa Cook and Beth Hammack wanted a 0.25 percentage point increase.
- Next step: The Fed will wait for more data before deciding whether to raise rates again (markets are looking to December).
This was the expected hold following September’s rate hike (the first in three years).
This Wednesday (10/28), the FOMC voted 10 to 2 to keep the federal funds rate in the *3.75% to 4% range.
- The economy remains strong (robust growth, high productivity, and solid investment).
- Inflation remains elevated.
- Dissenters: Lisa Cook and Beth Hammack wanted a 0.25 percentage point increase.
- Next step: The Fed will wait for more data before deciding whether to raise rates again (markets are looking to December).
This was the expected hold following September’s rate hike (the first in three years).