Fed Holds Rates, but with 2 Dissenters. A Hold before the Election Was Widely Expected. Dissenters Were Not
The statement upgraded the economy and left the door wide open for rate hikes. 10-Year Treasury yield kneejerk jumps.
Source: Wolf Street
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DW NOTE
Two dissents at a November FOMC meeting signal more than hawkish posturing — they signal fractured consensus on whether inflation is genuinely settling or merely paused. The Fed upgraded its economic assessment while the Strait of Hormuz remains effectively closed and WTI trades above $102, which means committee members who dissented likely see pass-through inflation risk the consensus is discounting.