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Fed faces tough rate decision ahead of Oct 27‑28 FOMC meeting amid weak jobs and hot inflation
The Federal Reserve is set to meet on Oct 27‑28 as weakening US employment collides with rising inflation pressures. After a 25‑basis‑point hike in September that put the federal funds target at 3.75%‑4.00%, economists broadly expect the Fed to pause this meeting, though Bank of America forecasts another increase. Recent data showed nonfarm payrolls rising by only 29,000 versus an 89,000 forecast and the unemployment rate climbing to 4.2%. September CPI rose 0.6% month‑over‑month to 3.7% year‑over‑year, while core CPI increased 0.3% month‑over‑month to 2.6% annually. Bitcoin briefly traded above $87,000 before falling to around $81,900 following the CPI release.