Argument for raising rates has ‘strengthened’, says FOMC
Federal Reserve to keep rates on hold “for the time being”
Members of the Federal Open Market Committee (FOMC) have judged the case for increasing interest rates "continued to strengthen" over the past two months, but ultimately decided – for the time being – to wait for "further evidence" before taking action.
On November 2, the Fed announced rates would remain at 0.5%, pending evidence it was progressing toward its objectives. This was largely in line with what markets had expected, with most observers anticipating a December rate hike.
"With gradual
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