The widely held view amongst economists surveyed by Bloomberg is that the US Federal Reserve will leave the Fed funds target range unchanged at 5.25-5.50% for the second consecutive meeting despite 3Q GDP growth coming in hot, the jobs market remaining tight and inflation remaining well above the 2% target. Markets are similarly seeing little prospect of any change to monetary policy next week in the wake of the recent surge in longer-dated Treasury yields and the tightening of financial conditions it’s prompted. This is creating even more headwinds for activity in an environment where mortgage and car loan rates are ... (full story)