US stocks extended earlier losses and Treasury yields fell after the release of the Fed statement. In September, Fed Chair Janet Yellen said that a move before year's end was likely as long as US employment and inflation continued to strengthen. Since then, job gains have continued at a solid rate and inflation has ticked higher, putting both close to the Fed's long-run targets. Trump has also accused the Fed of keeping rates low because of pressure from the Obama administration. Kansas City Fed President Esther George and Cleveland Fed President Loretta Mester dissented in Wednesday's decision in favor of an immediate hike.

Source: The Edge Markets November 03, 2016 07:30 UTC