October FOMC Meeting: The Lull In Rate Trajectory, Likely Temporary

What happened: The Federal Reserve left its benchmark interest rate range unchanged at 3.75% to 4.00% at the conclusion of its two-day FOMC meeting, a decision that was widely expected. Key numbers: Benchmark rate range held at 3.75% to 4.00%. The author expects rates to rise at the December meeting. Why it matters: Inflationary pressures have continued to tick higher, led by higher fuel costs that have begun spilling over into broader swaths of the U.S. economy. The author views the pause in the rate trajectory as likely temporary.

The Federal Reserve left its benchmark interest rate range unchanged at 3.75% to 4.00% at the conclusion of its two-day FOMC meeting, a decision that was widely expected.

Inflationary pressures have continued to tick higher, led by higher fuel costs that have begun spilling over into broader swaths of the U.S. economy. The author views the pause in the rate trajectory as likely temporary.