Divided Fed Chooses Patience, Leaves Rates Unchanged

Published on October 30, 2026

The Federal Reserve decided to wait for more data rather than raise rates at its October meeting. Two policymakers dissented, favoring a rate hike of a quarter percentage point.

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Alphabet’s Wobbly Quarter Is No Sign of a Crisis

October 30, 2026
Investors were thoroughly unimpressed with Alphabet Inc.’s third-quarter earnings on Wednesday evening. Shares tumbled nearly 11% after the company missed sales and profit expectations. It was a sign, Bloomberg News reported, that Wall Street wasn’t satisfied that Google is seeing enough of a return on its artificial-intelligence bets.

Quarterly Review and Outlook Third Quarter 2026

October 30, 2026
Milton Friedman famously said, “inflation is always and everywhere a monetary phenomenon,” emphasizing that sustained inflation occurs when money expands persistently faster than real output.