The AgendaTrading
Fed Minutes of the October 27-28 FOMC Meeting
The minutes of the Fed's October meeting will show how close it came to raising rates after two officials voted for a hike.
Until it begins
- 09
- Days
- 01
- Hours
- 46
- Minutes
Event time: · America/New_York
What it is
The Federal Reserve publishes the minutes of the Federal Open Market Committee's October 27-28 meeting at 2:00 pm Eastern time. At that meeting the committee held the federal funds rate at 3.75% to 4% by a 10-2 vote, with Lisa Cook and Beth Hammack dissenting in favor of a quarter-point increase.
Why it matters
The Fed said inflation remains elevated while activity is expanding at a strong pace, and it pointed to uncertainty from geopolitical developments. The Bank of England, facing the same energy shock from a Middle East conflict now in its ninth month, raised its rate to 4% on November 5, so the minutes will show how many Fed officials lean the same way before the December 8-9 meeting and its new projections.
What to watch
- 01
How many officials beyond Cook and Hammack saw a case for raising rates
- 02
How the committee weighs the inflation risk from higher energy prices
- 03
Signals for the December 8-9 decision, which comes with new economic projections
