CoinDesk
The Federal Reserve kept its benchmark interest rate range at 3.75%-4.0%, as markets expected, while signaling continued concern about inflation above its 2% target. Markets had priced out a hike at this meeting but fully priced in one at the next meeting in early December.
Why it matters
The pause does not mark a shift away from fighting inflation. September inflation reports remained troubling, while Fed speakers had indicated they were comfortable with a slower pace of monetary tightening.
Market impact
With a December hike fully priced in by markets, the next decision is a key test of whether inflation pressures keep policy on a tighter path. Fed Chair Kevin Warsh's post-meeting press conference was scheduled to begin at 2:30 p.m. ET.
Frequently asked questions
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What interest rate range did the Federal Reserve maintain?
The Fed kept its benchmark interest rate range at 3.75%-4.0%.
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Why did markets expect the Fed to hold rates steady?
Fed speakers had indicated they were comfortable with a slower pace of monetary tightening, and markets had priced out a hike at this meeting.
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What are markets expecting at the Fed's next meeting?
Markets fully priced in a rate hike at the next meeting in early December.
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How does inflation compare with the Fed's target?
Inflation remains well above the Fed's 2% target. September inflation reports were described as troubling.
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When was Fed Chair Kevin Warsh's press conference scheduled?
Warsh's post-meeting press conference was scheduled to begin at 2:30 p.m. ET.
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