Federal Reserve meets Oct. 27–28 with the funds rate at 3.75% to 4%
The Fed calendar lists a two-day meeting on Oct. 27–28 and a 2 p.m. statement on the 28th. In September the committee raised the target range to 3.75%–4%.
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Michigan survey shows October consumer sentiment held near 48
The University of Michigan’s final October sentiment index was 48.0, a tenth of a point under September. Year-ahead inflation expectations rose to 4.7%.
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Michigan survey: 85% called it a bad time to buy a house
In the October Surveys of Consumers, 85% said it was a bad time to buy a home, and 62% of them blamed high interest rates, the university reported.