Fed Holds Rates Steady at 3.75% to 4.00% as Policymakers Weigh the Path to December

Federal Reserve officials voted 10-2 to leave interest rates unchanged yesterday, maintaining the federal funds target range at 3.75%–4.00%. Following September’s 25-basis-point increase, yesterday’s decision reflects a more patient approach as policymakers assess whether additional tightening will be necessary to bring inflation sustainably back toward the Fed’s 2.0% long-term target. While the FOMC reiterated its…