The Federal Reserve held interest rates at 3.75% to 4% on Wednesday. Fed Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, voting for a quarter-point increase. The vote split 10-2, compared to unanimous support for a hike in September.
The Fed removed language from its September statement promising a "timelier return" to its 2% inflation target. Wednesday's statement said instead that "the accumulation of more information" will guide its next move. Consumer prices rose 3.7% year-over-year in September, nearly double the Fed's 2% goal.
Bitcoin briefly touched $81,185 then settled near $80,950 on Binance. Gold dipped 0.1% to about $4,036 an ounce. Futures markets priced an 84% chance of a hike at the December 8-9 meeting before the decision.
Chicago Fed President Austan Goolsbee has favored waiting for more data. Morgan Stanley's Michael Gapen warned that a pause won't end rate hikes. Fed Chair Kevin Warsh holds a press conference at 2:30 p.m. ET. The Personal Consumption Expenditures price index, the Fed's preferred inflation gauge, lands Thursday.