0600 GMT - By holding interest rates steady, the Federal Reserve has effectively deferred the debate on inflation rather than settled it, Federated Hermes' Karen Manna says in a note. "The market's attention now shifts to December, incoming economic data, and any signals that clarify the Fed's reaction function," the fixed income strategist says. Beyond the near-term outlook, investors will increasingly focus on the work of the Task Forces and the composition of the 2027 Federal Open Market Committee, both of which could shape the trajectory of policy over the coming years, Manna says.
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