The Big Decision: No Change
The FOMC statement is out, and the Fed is holding steady. No change in the rate target, but the Fed is split with three dissents.
The language suggests the committee is lining up for a December move: “The case for an increase in the federal-funds rate has strengthened.” That's the language Ms. Yellen used last month in her Jackson Hole speech.
But the committee said it decided “for the time being, to wait for further evidence of continued progress toward its objectives.”
Sudeep Reddy