FOMC holds rates steady, Chair Warsh makes clear he won't provide forward guidance | December rate hike depends on data
The U.S. Federal Open Market Committee (FOMC) met on October 27–28 and held the federal funds rate target range at 3.75–4.0%. At a press conference, Fed Chair Warsh rejected forward guidance and made clear his “forward silence” approach of not committing to policy in advance. The FOMC’s December rate decision is expected to be more dependent on the results of economic indicators such as employment data and the CPI. FOMC upgrades its economic assessment in statement, with two dissenting votes In
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