THS LIVE | Live Coverage of the Fed Rate Decision & the Post-Decision Press Conference
The Fed announces its decision at 11 AM PT, right as we go live, and the setup is ugly. Markets price under a 10% chance of a hike after September's first one in three years, but inflation has gotten worse since: September CPI hit 3.7%, and PCE is due tomorrow with the headline expected to jump to 3.7% from 3.4%. Traders already pencil in a December hike. Overnight the Bank of Canada hiked to 2.5% and said more could be needed, with oil as the driver. Brent has slid about 3.6% since Monday's show to $112.49 on Iran talks, yet it's still above $100 for 26 straight sessions. The 10-year sits at 5.03%, up 4bp since Monday. Warsh's press conference is the whole show. Tune in.
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🔗 Resources:
Fed meeting live updates: No hike expected, but investors watching Warsh for what's next (CNBC)
Fed meeting updates: FOMC expected to hold interest rates steady, with more hikes on the horizon (Business Insider)
Bank of Canada Hikes to 2.5%, Says More Could Be Needed (Bloomberg Economics)
Oil falls almost $2 as Middle East talks help ease supply worries (Reuters)
'U.S., Canada Working On Deal To Ease U.S. Tariffs On Canadian Steel And Auto Imports' - Reuters Exclusive (Benzinga News)
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