Fed Holds Interest Rate at 3.75%-4.00% in 2-10 Vote, Two Officials in Favor of Hike The Federal Reserve voted 10-2 on October 28 to keep the target range for the federal funds rate at 3.75%-4.00%. The FOMC said economic activity continues to expand at a strong pace, supported by resilient domestic spending, strong productivity growth and strong capital investment, despite heightened geopolitical uncertainty. Job growth kept pace with labor force growth, while unemployment was little changed. Inflation remains high, and the committee will evaluate the incoming data to determine the appropriate policy position to return inflation to the 2% target. Lisa Cook and Beth Hammock dissented, favoring a 25 basis point rate hike. - Link.

Fed Holds Interest Rate at 3.75%-4.00% in 2-10 Vote, Two Officials in Favor of Hike The Federal Reserve voted 10-2 on October 28 to keep the target range for the federal funds rate at 3.75%-4.00%. The FOMC said economic activity continues to expand at a strong pace, supported by resilient domestic spending, strong productivity growth and strong capital investment, despite heightened geopolitical uncertainty. Job growth kept pace with labor force growth, while unemployment was little changed. Inflation remains high, and the committee will evaluate the incoming data to determine the appropriate policy position to return inflation to the 2% target. Lisa Cook and Beth Hammock dissented, favoring a 25 basis point rate hike. - Link.