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Fed Holds Rates Steady Despite Rising Inflation, Two Officials Push for Immediate Hike

The Fed kept its benchmark rate at 3.75-4% after its October 28 meeting, saying inflation remains elevated and more data is needed to return it to the 2% goal. The decision was not unanimous: Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, preferring a 0.25 percentage point increase. Inflation has been above the Fed's 2% target for more than five years, and the PCE index is forecast to exceed 3% in September even excluding food and energy. The U.S. economy remains resilient, with low unemployment, steady consumer spending and AI investment supporting growth; the Atlanta Fed's GDPNow forecasts third-quarter GDP growth of 3.4% annualized. Observers are watching the November 3 midterm elections, while futures markets lean toward a rate hike in December.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Fed giữ nguyên lãi suất bất chấp lạm phát leo thang, 2 quan chức muốn tăng ngay

Read the original on CafeF ↗

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Fedinterest ratesinflationGDP growthUS

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