The Federal Open Market Committee (FOMC) held rates Oct. 28, while markets had by Saturday lowered the implied chance of a December increase to 70.7%.
In a 10-2 vote, the committee left its target range at 3.75% to 4.00%. Federal Reserve Governor Lisa D. Cook and Cleveland Fed President Beth M. Hammack favored a quarter-point increase, as EconoTimes reported in its earlier account of the decision.
On Saturday, the implied probability of a quarter-point hike stood at 70.7%, compared with 79.6% two days earlier, an 8.9-percentage-point decrease. The chance of no change was 29.3%, leaving an increase as the more likely of the two market outcomes.
Those probabilities track market expectations and do not announce a Federal Reserve decision. The FOMC's next scheduled policy meeting is Dec. 8-9.
