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Market Brief: Fed Holds Rates Steady…Now What?
The Federal Open Market Committee (FOMC) held the federal funds rate steady at its October meeting, suggesting that more time and “the accumulation of more information” were needed before the Committee could decide its next policy move. While market expectations initially had an October hike penciled in following the Fed’s September rate increase, the tune changed over the course of the month as numerous Fed officials pushed back against that narrative. This came despite inflation continuing to rise, its underlying drivers showing little sign of easing, and affordability remaining on the…
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