Fed Sets Stage for December Rate Hike, Skipping October

The US Federal Reserve may skip an interest rate hike in October but still deliver a trigger-pulling increase by December, according to recent comments from Fed officials.

Chicago Federal Reserve President Austan Goolsbee said that there is 'plenty of room for anything to be on the table' when asked about potential rate hikes at their next meeting.

Goolsbee also stated that the labour market appears steady but emphasized the need to keep an eye on inflation, which currently sits at 3.4% above the Fed's two per cent goal.