FOMC flipped from hikes to hold in six weeks — @scotiabank
The Fed reversed course fast.
As recently as September 16 the committee was raising rates. By October 28 it shifted to maintaining the target. That's a sharp turn, and it didn't come without friction: dissenters Cook and Hammack prefer hikes, per Scotiabank's read of the decision.
That internal split raises the odds of more volatility around future meetings.
A committee that just reversed direction and still has vocal hawks isn't one sending a clean signal.
The Fed reversed course fast.
As recently as September 16 the committee was raising rates. By October 28 it shifted to maintaining the target. That's a sharp turn, and it didn't come without friction: dissenters Cook and Hammack prefer hikes, per Scotiabank's read of the decision.
That internal split raises the odds of more volatility around future meetings.
A committee that just reversed direction and still has vocal hawks isn't one sending a clean signal.