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November FOMC - Everything You Need to Know (Eruptions Market Report 11-3-23)

The Federal Reserve left interest rates unchanged at the conclusion of its policy meeting today, marking the second meeting in a row where the central bank has skipped a hike in its current policy-tightening cycle.

The call, which was unanimous and widely expected, keeps the target for the federal-funds rate at 5.25-5.50%. The FOMC's statement didn't rule out future rate hikes.

At a press conference, Chair Jerome Powell said that officials weren't yet satisfied with the progress being made on inflation and that monetary policy might not be restrictive enough. Policy makers are also watching rising bond yields, which have also contributed to tighter financial conditions.

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