Fed holds interest rates steady – but investors bet on December rate hike

The Federal Reserve maintained interest rates on Wednesday in a 10-2 vote, despite worsening inflation data. While Governor Lisa Cook and Cleveland Fed President Beth Hammack favored an increase, the central bank stood pat. However, investors largely expect a quarter-point rate hike in December. Bitcoin remained steady following the decision. The move comes as the market anticipates a potential policy shift during the final meeting of the year to address ongoing economic pressures and inflation.