Fed holds fire on interest rates despite intensifying inflation
According to the South China Morning Post, the US Federal Reserve on Wednesday held interest rates steady at a target range of 3.75 to 4.00 per cent, in line with market expectations, days before midterm elections where inflation has been a key issue. The Financial Times reported the Fed will vote on monetary policy seven times next year, down from eight. The New York Times reported that Chairman Kevin M. Warsh cited an information-rich period before the December meeting. CNBC reported two of the 12 voters dissented, both wanting a quarter-point rate rise. The vote was 10-2, according to the South China Morning Post. CBS News and IOL also reported the hold. TVC News reported analysts expected the hold, with markets pricing in at least one rate hike before year-end. Summary from 8 sources
Sources differ: TVC News described the hold as expected by analysts ahead of next week's meeting, while the South China Morning Post reported it as already decided on Wednesday.
Summary from 8 sources Financial Times first also South China Morning Post, The New York Times, TVC News, CBS News and 2 more
