Fed Says Economic Activity is Growing at 'Strong' Pace
Dow Jones02:23
1422 ET - The Fed left interest rates unchanged, but subtly changed its assessment of the economy. Its October policy statement described economic activity as expanding at a "strong" pace, compared with "solid" in September. The change suggests officials see growth as more robust than they did at their previous meeting, ahead of Thursday's GDP data. "We expect two additional 25bp hikes, in December, and March 2027, to take the fed funds rate to a terminal rate of 4.25-4.5%, slightly below current market pricing," a note from Oxford Economics says.
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