US inflation rises to 3.6% as Federal Reserve holds rates
Business
Inflation in the US ticked up to 3.6% in the 12 months through September, mainly because gas and everyday goods got pricier.
The Federal Reserve noticed but decided not to raise interest rates just yet, though financial markets were pricing in a roughly 84.6% chance of a rate hike in December.
Markets price 84.6% December rate hike
People are still spending more, but once you factor in inflation, that growth has basically stalled.
With financial markets saying there is a roughly 84.6% chance of a rate increase in December, all eyes are on the Fed as they try to keep rising prices from spreading and slowing down the economy even more.