Fed Keeps Rates Unchanged, Still on Track for Hike in December
The Federal Reserve says it will keep interest rates the same, but said a rate increase does remain on track for December. In a statement, the Fed said “the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions.”
The report goes on to say gasoline prices rose in the aftermath of the hurricanes, which boosted overall inflation in September, but inflaton for items other than food and energy remained soft.
In other Fed related news, current chair Janet Yellen’s term ends in February. So far it doesn’t look like President Trump is reappointing her.