Fed done hiking rates, but higher for longer message gaining traction
The U.S. Federal Reserve will keep its key interest rate on hold on Nov. 1 and may wait longer than previously thought before cutting it, according to economists in a Reuters poll, as the central bank's higher-for-longer message gains traction. While a slight majority still see a cut before the middle of 2024, a significant minority of forecasters, around 45%, now see no rate reduction until the second half of next year or later, up from 29% in the last poll. In the weeks since the Fed's September meeting where it opted to pause hiking rates, inflation surprised to the upside and p...
Source: yahoo.com
