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Source: Bloomberg
Good morning. The Federal Reserve’s rate path, Sam Bankman-Fried’s multibillion-dollar fraud and a possible Xi-Biden meeting. Here’s what people are talking about.
Federal Reserve Bank of San Francisco President Mary Daly said Thursday that policymakers can hold interest rates steady if the labor market and inflation continue to cool or financial conditions remain tight. Fed officials are trying to decide whether they need to hike their benchmark lending rate again after raising it by more than five percentage points over the last 19 months. Separately, a monthly US payrolls report due Friday will provide some light on the Fed’s path forward. A Bloomberg survey of economists expects nonfarm payrolls to have increased 170,000 in September, compared with 187,000 in the previous month.