The Federal Reserve begins its two-day policy meeting on Oct. 27 as officials weigh persistent inflation pressures against signs of a cooling labor market.
In September, officials raised interest rates by a quarter point for the first time in three years, lifting the benchmark rate to a new target range of 3.75 percent to 4 percent. Traders had initially penciled in back-to-back rate hikes, but evolving economic data forced investors to reprice expectations.
As the Federal Open Market Committee convenes for its second-to-last meeting of the year, officials will review a mixed set of indicators that could prompt them to hit the pause button….