Special topic: The Fed kept interest rates unchanged, with two officials advocating for a rate hike. On Wednesday, the Fed held interest rates steady as the market expected, and major assets showed little reaction. Although the post-meeting statement changed only minimally compared with the previous one, there are three points worth investors' attention.
Two policymakers favor a rate increase, one of whom is Governor Lisa Cook, seen as a centrist. The assessment of economic activity was upgraded from "moderate" to "strong." A phrase not seen before was added: the accumulation of more information will help the Committee determine the appropriate policy stance. Fed Chair Kevin Warsh noted in July that reducing the frequency of meetings would allow more information and data to accumulate in between. At this press conference, he announced that there would be no vote on interest rate policy at one meeting next year, and that the number is expected to rise to two by 2028. Comparison of the October 28 and September 16 statements. New wording on October 28: The accumulation of more information will help the Committee determine the appropriate policy stance to ensure inflation returns to the Committee's 2% goal in a timely manner. Economic activity: October 28: expanding at a strong pace. September 16: expanding at a moderate pace. Vote result: October 28: held rates steady by a 10-2 vote, with the two dissenters favoring a 25 basis point rate hike. September 16: unanimously agreed to a 25 basis point rate hike. Similarities: continued policy of maintaining ample reserves in the banking system; strong productivity growth and robust capital investment; uncertainty remains elevated partly due to geopolitical developments. Employment growth has kept pace with the labor force, while the unemployment rate has changed little; the Committee will achieve price stability. Sina partner platform futures account opening, safe, fast and guaranteed.
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