All three major category of durable goods orders fell in September for a second month and shipments of business goods that are counted in the government’s GDP calculation slipped to marginally positive in the third quarter, diminishing the prospects for economic growth.
The Fed governors surprised the markets in September when they declined an expected 0.25 percent increase in the Fed Funds rate, citing weak overseas economic growth and subdued U.S. inflation. No action is expected at Wednesday’s meeting.
Chief Market Strategist
WorldWideMarkets Online Trading