Federal Reserve interest rate decision: No change

<ul><li>Prior Fed funds rate was 5.25-5.50%</li><li>Recent indicators suggest that economic activity expanded at a strong pace in the third quarter vs prior statement that said economy was 'solid'</li><li>Repeats that inflation remains elevated.</li><li>Repeats " the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time"</li><li>Repeats "The Committee remains highly attentive to inflation risks"</li></ul><p>The market was pricing in a 25% chance of a hike at the December meeting before the statement was released.</p><p>Here is the side-by-side statement, which doesn't offer anything market moving:</p><p>There was some angst about larger changes but this is pretty much what was expected. Powell will speak at 2:30 pm ET.</p>

This article was written by Adam Button at www.forexlive.com.