Fed Expected to Pause Rate Hikes in October, but Monetary Rules and Data Point to More Tightening Ahead

As the Federal Open Market Committee (FOMC) prepares for its upcoming policy meeting on October 27–28, financial markets and economic analysts widely anticipate that the central bank will leave its federal funds rate target unchanged. Following a quarter-point increase in September that brought the target range to 3.75 to 4.00 percent, key Federal Reserve officials…

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