Fed Holds Rates at 3.75% to 4.00% in 10 to 2 Vote as December Odds Reach 87.5% Before Q3 GDP
The Federal Reserve kept its benchmark rate at 3.75% to 4.00% on Oct 28 by a 10 to 2 vote, with two members favoring an immediate quarter point hike. The statement upgraded economic activity to strong while keeping inflation elevated. December hike odds rose to about 87.5%. Investors now await Q3 GDP and September PCE data, due Oct 29, to test whether high rates will hold.