Fed holds at 3.75–4.00% — 10–2, with two dissents for a hike; December is the live meeting
The FOMC held Wednesday (10/28), 10–2, keeping the funds rate at 3.75–4.00% after September's hike — the first in three years. The statement: activity expanding at a strong pace, spending resilient, inflation still elevated (September CPI 3.7%), and the committee wants 'the accumulation of more information' before moving. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented — both wanted a quarter-point hike now. No clear December signal in the statement; market odds for a December hike were put near 80% in wire coverage. First fresh read comes Thursday: September PCE, the Fed's preferred gauge. Sources: Fed statement via Morningstar/Dow Jones · Marketplace · Reuters — Trading Day.