At the October meeting, the U.S. Federal Reserve Open Market Committee voted to keep the Fed funds policy rate unchanged at the current range of 3.75-4.00%. In a 10-2 vote, there were dissents from governors Cook and Hammack, who each preferred a rate hike of a quarter-point.

Economic data included continued strength in manufacturing and services PMI data, even though down from prior levels, and continued high inflation pressure readings. Housing data was weak, seen in lower housing starts and readings of homebuilder sentiment. Sentiment was little changed, although it continued to hover at multi-decade trough levels.

Economic data included both producer and consumer price inflation coming in stronger than expected, in keeping with a spike in gasoline and related petroleum pricing last month. Retail sales and existing home sales also saw gains, along with low jobless claims, all pointing to decent economic conditions.

Economic data included services PMI falling a bit, but remaining solidly in expansion. Consumer sentiment remained weak, particularly due to sensitivity to high inflation.

Economic data included both Q1 and Q2 U.S. GDP growth data being revised upward. Personal income and spending rose, at a pace faster than inflation. Manufacturing survey data pulled back a bit, but remained solidly expansionary, as was construction spending. Home price appreciation continued to flatten, while the employment situation report showed weaker job growth than expected.

Economic data included gains in S&P manufacturing and services PMI, further into expansion, and a rise in new home sales, while durable goods orders and jobless claims remained stable.