The Federal Reserve is expected to leave interest rates unchanged at its October meeting despite higher energy costs and additional pressure on household budgets. The consumer price index rose 3.7% year over year in September, while the U.S. war with Iran helped drive oil prices higher. The Fed raised rates by 25 basis points to a range of 3.75% to 4% last month, and nearly 75% of market participants expect at least one more increase by year-end. Borrowing costs remain elevated, with average rates of 23.96% on new credit cards and 7.4% on 30-year fixed mortgages, while savers continue to benefit from relatively attractive deposit yields.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
