The Federal Reserve last month raised benchmark interest rates by 75 basis points for the third consecutive time to tame soaring inflation. Furthermore, the hot September employment report should keep the Fed on track to deliver a further hefty interest-rate hike in its November meeting.
“Until I see some evidence that underlying inflation has solidly peaked and is hopefully headed back down, I’m not ready to declare a pause. I think we’re quite far from a pause,” said Minneapolis Fed President Neel Kashkari.
