Top Fed official signals central bank will keep rates on hold in October
Vice-chair for monetary policy Philip Jefferson echoes dovish remarks made by New York central bank head John Williams
Source: Financial Times
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DW NOTE
The Fed raised rates last month for the first time this cycle and markets are pricing another hike at 70%. Now the vice-chair signals a hold. Either Jefferson sees something in the data that the swaps market doesn't, or he's watching the Hormuz closure and $92 oil and decided discretion beats consistency.