By my assessment, the labor market is largely in balance, the economy shows continued momentum, and inflation remains too high, the statement read in part. I view the stance of policy as only modestly restrictive. In this context, I judged it appropriate to maintain the policy rate at this week's meeting. The federal funds rate is currently at a range of 3.75% to 4%, its lowest level in three years.
Mortgage rates are likely to rise in November, as a December cut from the Federal Reserve has started to seem uncertain. Mortgage interest rates fell ahead of Fed cuts in September and October, because mortgage lenders worked market predictions into their base rates instead of waiting for confirmation. Even though markets are leaning toward a third consecutive cut at the Federal Reserve's Dec. 9-10 meeting, there's enough doubt that staying in wait-and-see mode feels more appropriate.
The S&P 500 closed October with three consecutive weeks of gains, temporarily setting a record high around 6,920 points before slightly retreating to the 6,840 area by the end of the week. This upward momentum reflects a combination of expectations for Federal Reserve rate cuts, stronger-than-expected corporate earnings, and investors' "risk-on" sentiment during the year-end season. However, this optimism also comes with clear warnings, as valuations are now significantly higher than long-term averages, while the macroeconomic foundation still contains various uncertainties.
U.S. markets closed the week higher, overcoming volatility from renewed U.S.-China trade tensions and rising oil prices following new U.S. sanctions on Russia's two largest oil firms. The small-cap Russell 2000 and mid-cap S&P 400 indexes outperformed major benchmarks, while within the S&P 500, technology and energy stocks led the gains. Defensive sectors such as utilities and consumer staples underperformed.
Bitcoin price's recent rally yesterday ran into resistance just above $116,000, settling under $113,000 at the time of writing, as traders weigh broader macroeconomic signals ahead of today's Federal Reserve announcement. The cryptocurrency market's total capitalization has retreated 1.4% over the past 24 hours to $3.81 trillion, according to Bitcoin Magazine Pro data, even as U.S. equities continue to reach fresh highs.
The Japanese Yen continues to weaken, reflecting the policy divergence between the Bank of Japan (BoJ) and other major central banks. Following its latest meeting, the BoJ kept its policy rate unchanged at 0.5%. Although Governor Kazuo Ueda signalled that the bank is "ready to adjust" policy if wage growth and inflation continue to rise sustainably, recent data have not been strong enough to justify an immediate change.
I normally wait until the last minute to pick up candy for Halloween. This entails going to the supermarket during my lunch break on Halloween only to find that all of the Halloween-themed bags have already been replaced with Christmas ones. This usually leaves me with no option but to buy the only candy that normally comes individually wrapped in bulk: blow-pops and stacks and stacks of fun-sized chocolate bars. Beggars can't be choosers.
Cambio, cambio. Under the blazing sun, dozens of money changers are hawking US dollars along Florida Street, a bustling pedestrian strip in Buenos Aires. Known as arbolitos (little trees), they are thriving ahead of the 26 October midterm elections in a country long used to saving in the greenback. The best time to buy is now, says one arbolito, declining to give her name. [The dollar] went down a little but it is a fake-out it'll rise again.
The new consumer price data released Friday shows an overall 0.3% increase in September, bringing the annual rate of inflation to 3%, the highest it has been since January. RELATED: Social Security cost-of-living increase announced for 2026 The numbers from the Bureau of Labor Statistics showed the biggest factor in the monthly rise to be gasoline prices, up 4.1% from August to September.
With Thanksgiving five weeks away, retailers are once again stepping in to take some of the guesswork out of hosting. Walmart, Aldi, and Sam's Club have each shared this year's menus of ready-to-order Thanksgiving meal kits. Costco also appears to be in on the trend; one shopper on social media spotted a meal kit available in the fresh food section.
Former House Rep. Cori Bush thinks she knows why Democrats lost last year, and how they can win in 2028. Sure, the former Squad member also lost last year-she got primaried by another Democrat in August, after the American Israel Public Affairs Committee threw at least $12 million behind her opponent because she had been an outspoken critic of Israel's actions in Gaza.
For small business owners, inflation is a big concern. Many are more worried than ever about their income, according to a recent report from the U.S. Chamber of Commerce. The economy has made things harder for many, but small businesses still play a key role in our towns, cities, and neighborhoods. Local services like dry cleaners, bakeries, coffee shops, and tailors might not seem exciting, but they're essential. These are the businesses you and your neighbors count on every day.
This tremendously successful theory gave us everything from gravitational waves to black holes based on one profound insight: that the fabric of spacetime itself would evolve, curve, and even ripple based on the properties and behavior of the matter and energy within it. When we applied Einstein's equations to the entire Universe as a whole, along with the idea that the Universe was filled nearly uniformly with matter and energy on the largest scales, we wound up with an expanding Universe.
If you want the briefest possible explanation of why Democrats lost the presidency and Congress in 2024, it was because swing voters cared a lot about inflation and the politicians running the country decided to talk about everything else. Yes, they had talking points about inflation, but they were mostly defensive (it wasn't as bad as it had been, it was due to circumstances beyond anyone's control, etc.). And they decided to try to force people to think instead about their issues, such as abortion rights and the threat Donald Trump posed to democracy. It didn't work.
On average, 67% of consumers either dine in or order out from restaurants at least once a week. However, for couples with kids, that number jumps to 80%, Technomic found.Conversely, adults living with a spouse and no children, or those living alone, report below-average weekly restaurant visits, at 65% and 63%, respectively. The increased reliance on restaurants suggests that dining out is more than a luxury for busy families with children; it is instead a "routine coping mechanism," according to Technomic.
