Wednesday’s Federal Reserve meeting was a bit like a Wes Anderson film: what mattered was not so much the ending as the way the story was told. The outcome came with a spoiler alert. More than 90% of analysts expected no change in interest rates, and they were right. The Fed left rates unchanged at 3.75% to 4%, less than a week before the U.S. midterm elections, which are being shaped by an affordability crisis fueled by persistent inflation.

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