US Treasury Secretary Scott Bessent spoke to CNBC after the Federal Reserve's latest policy decision, just days before an election that will determine the balance of power in Washington. The Fed kept interest rates unchanged, as the market had widely expected, after pausing its rate hikes. Bessent said it would be 'not necessarily' a mistake if the Fed needed to raise rates at its December meeting. Fed funds futures traders put the probability of a December rate hike at more than 83%. Bessent is a key confidant of President Donald Trump, whose Republican Party is counting down to next week's midterm elections, and the outcome of several key races could determine whether the GOP retains total control in Washington.
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Fedinterest ratesScott Bessentmidterm elections
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: high
| Market | Currencies |
|---|---|
| Close on 10/27/2026 | 102.37 |
| Change that session | +0.35% |
XAU/USD
▼ Likely negativeRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/27/2026 | 4,060.32 |
| Change that session | +1.07% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/27/2026 | 80,909.77 |
| Change that session | +0.95% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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