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Stage Set for December Fed Rate Hike

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The Federal Reserve kept interest rates unchanged on Wednesday in its last policy decision before the U.S. election, but signalled it could hike in December as the economy gathers momentum and inflation picks up.

The U.S. central bank said the economy had gained steam and job gains remained solid. Policymakers also expressed more optimism that inflation was moving towards their 2 percent target.

“The committee judges that the case for an increase in the federal funds rate has continued to strengthen but decided, for the time being, to wait for some further evidence of continued progress toward its objectives,” the Fed said in a statement following a two-day meeting.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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