Fed Holds Fire on October Rate Hike, Eyes December Increase

U.S. Federal Reserve policymakers are leaning against delivering a second straight rate hike this month to give them more time to assess economic data.

A cooler-than-expected job market report on Friday reinforces this approach, as it shows the labor market is steady but inflation remains a concern.

Chicago Fed President Austan Goolsbee stated there's 'plenty of room for anything to be on the table' at their next meeting, indicating that all options are still open.

Despite expectations for a brisk series of rate hikes earlier this week, traders now see only a one-in-four chance of an October increase, with a high probability of a December hike.