Split Fed holds rates steady as traders bet on a December hike
The Federal Reserve kept its target range at 3.75% to 4% on Oct. 28, with a 10-2 vote. Two members wanted an immediate quarter-point hike, and rate-market trackers now see a December hike as likely.
Why it matters
- The Fed held rates as expected, but two dissenters wanted a hike now.
- Market trackers put December hike odds between about 83% and 88%.
- Higher rate expectations can pressure Bitcoin, which has been trying to recover.
What to watch next
Watch the Fed's December decision and whether hike odds keep rising or ease in the lead-up.
