Federal Reserve holds Interest rates steady: Pinnacle's Report

INDORE, India - Nov. 1, 2016 - PRLog -- The Federal Open Markets Committee, which makes economic policy decisions, gave their views for holding interest rates steady, but set the stage for a hike in December in the midst of signs the economy is picking up steam.

As per data, the payrolls still growing steadily while consumer price index showing some indications of ticking higher, putting both employment and inflation near to the Federal's estimates. Growth has improved, with the economy speeding up at a 2.9% annual pace in the third quarter after a fairly slow first half.

Investors have ruled out a move at this week's meeting provided it happens only a week before the presidential election of US. Some Federal officials have recently stated that a December rate hike would be preferable.

An ABC News/Washington Post poll released on Sunday gave sings that Democratic candidate Hillary Clinton with a 1% point national lead over Republican rival Donald Trump, within the margin of error.

At the meeting prior to raising rates last year, the Federal Reserve indicated strongly its plans by including a reference to possibly raising rates, at its next meeting.

Reports by http://www.pinnaclefinancial.in