Fed meeting live updates: No hike expected, but all eyes on Warsh for what's next – CNBC

Fed meeting live updates: No hike expected, but all eyes on Warsh for what’s next  CNBCFed meeting live updates: Federal Reserve weighs elevated inflation, midterm elections as October meeting kicks off  Yahoo FinanceHow the Fed is likely to act on interest rates just days before the midterm elections  Fast CompanyFed expected to hold interest rates steady as inflation tops midterm voters’ concerns  NBC NewsThe Fed says it ignores politics. Its rate moves tell a more complicated story  CNN

The Fed's decision Wednesday follows a string of reports indicating that inflation is reaccelerating. September's consumer price index showed annual inflation ticked up to 3.7%, driven by higher energy costs. The CPI is currently on one of its longest streaks of annual readings above 2% on record. The producer price index rose to 6.3% year over year in September. It was the steepest 12-month increase since 2022 for the index, which acts as a gauge of inflation on wholesalers. The Fed won't get the latest from its preferred inflation reading, the personal consumption expenditures price index, until the September number is released Thursday morning.

Wall Street economists use CPI and PPI use to estimate PCE, and they expect it to rise as well. — Alex Harring The Federal Reserve is following a different reaction function as it sets monetary policy, according to Stephen Miran, a former chair of the Council of Economic Advisers and governor at the central bank. "There's a completely new reaction function in town," Miran said Tuesday on CNBC's