The Fed held its target range at 3.75% to 4% at its October meeting, saying inflation remains elevated, with two dissenters who wanted a rate hike. Chair Kevin Warsh reiterated the 2% inflation target, stressing there is no soft target, and said the Fed will reduce its rate-setting meetings in coming years. Market odds of a December rate hike stayed above 80%. Memory stocks rallied after SK Hynix reported soaring quarterly revenue and profit: its U.S.-traded shares rose over 12.5%, and Micron gained nearly 6% for a fourth straight session, though still about 19% below its June record close of $1,213 and up 240% year to date. Apple also released its first touchscreen laptop, with MacBook Pro models starting at $2,899.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
Fedinterest ratesinflationKevin WarshMicron
Open a keyword to see other news on the same topic.
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% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/27/2026 | 769.66 |
| Change that session | +0.56% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- The Economy Could Be Growing Too Fast for Warsh
The Fed held its target range at 3.75% to 4% on October 28, 2026, in a 10-2 vote, with Lisa D. Cook and Beth M. Hammack favoring a 25-basis-point hike. Chair Kevin Warsh said first-half GDP was revised up to 2.4% from 1.8% and third-quarter growth is likely above 3%, but pushed back on the idea that the economy is overheating. The Atlanta Fed's GDPNow stood at 3.3%, and a futures-based measure put the odds of a December hike at 86.0%. Headline PCE inflation was 3.4% in August and core was 3.0%, mostly tied to energy and core goods affected by the Middle East conflict and tariffs, which rate hikes do little to address. SPY is up 13.26% year to date, but its large tech holdings make it sensitive to a 10-year yield above 5%, and its outlook weakens if September core PCE tops 0.3% or the yield passes its October 5 high of 5.31%.
- Analysis: Warsh is learning to wield the Fed's power without showing his hand
Fed Chair Kevin Warsh's Wednesday press conference was far less defensive than his early appearances, and he is letting markets guess his next move to a degree. He said financial conditions are tighter but declined to call them tight, signaling a lean toward higher rates and laying groundwork for a possible December hike if inflation stays stubborn. Warsh did not confirm that officials who talked down market expectations had acted at his direction, and stressed that the inflation target is a flat 2%. He announced that the FOMC will skip rate-decision votes at one meeting in 2027 and two in 2028, while still meeting eight times a year. PGIM chief U.S. economist Robert Sockin called holding rates this week a “policy mistake” that could force the Fed to hike higher and raise recession risk.
- Further Fed rate hikes may not necessarily be a mistake
In a CNBC interview on October 28, U.S. Treasury Secretary Scott Bessent said further Fed rate hikes are “not necessarily” a policy mistake, just hours after the Fed held rates steady at its October meeting. He said he and President Trump trust Fed Chair Kevin Warsh to balance maximum employment and price stability, and that the energy-driven supply shock should be viewed as temporary. The U.S.-Iran conflict has sharply cut global crude output and pushed U.S. annual inflation further from the Fed's 2% target. Bessent also said the “Operation Economic Outcast” campaign to isolate Iran's economy has yielded very positive results, with internal estimates that Iran's economy could shrink by up to 25% within a year. On AI-related bond yields, officials are monitoring but see no alarming signs, and Bessent said neocloud firms, which Elon Musk warned on October 25 could face a wave of bankruptcies and large-scale mergers at more than 200 companies, make up only a small part of the ecosystem.
- Gold slips after Fed holds rates, PCE inflation data in focus
Spot gold fell 0.4% to $4,051.91 an ounce after the Fed held its benchmark rate unchanged in a 10-2 vote. Chair Kevin Warsh said the Fed could cut its scheduled policy meetings from eight to six annually starting next fall. Traders still expect a rate increase in December as high energy prices complicate efforts to control inflation, and they are waiting for Thursday's September PCE data. Gold has fallen 2.5% in October and is on track for a second straight monthly decline, after some investors sold bullion to cover losses from last week's AI-driven stock rout. Goldman Sachs estimates central banks bought 79 tonnes of gold in August, with China accounting for 25 tonnes; Rick Kanda of The Gold Bullion Company said sustained central-bank demand could support prices over the long term.
- Here are five key takeaways from the Fed rate decision and Warsh news conference
The Fed held its benchmark rate steady as widely expected, stressing a patient approach while it gathers more information on inflation's return to the 2 percent goal. Starting in 2027 the committee will still meet eight times, but one meeting will have no rate vote or post-meeting statement, and strategy meetings rise to two, leaving six chances to adjust rates outside emergency meetings. Governor Lisa Cook and Cleveland Fed President Beth Hammack both dissented; Cook had not dissented at all since joining in 2022, which made her vote a surprise. Chair Kevin Warsh said AI is one of several factors driving a strong expansion. The press conference was cut to half an hour, with reporters limited to one question each.
- Fed Keeps Interest Rates Unchanged
The Fed kept its benchmark rate at 3.75%-4% on October 28, after raising it last month for the first time since July 2023, as markets had expected. While acknowledging that inflation is "still accelerating," the Fed raised its assessment of the economy and said further hikes may be needed depending on upcoming inflation data. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, both wanting a 25-basis-point (0.25%) hike. Chair Kevin Warsh said the economy is getting harder to assess, inflation has been above target for nearly 6 years, and the Fed may reduce the number of rate-setting meetings starting in 2027. Markets were mixed: the Nasdaq Composite fell 0.13%, the S&P 500 and DJIA edged higher, and spot gold dropped over $20 to $4,035 an ounce.
Related markets
Latest news
- Anthropic IPO: How to Buy Shares and What to Expect on Day 1
Anthropic has publicly filed its S-1 ahead of an IPO that could debut as early as the week of Nov. 16, with shares to trade on Nasdaq under the ticker ANT. The article explains that retail investors typically buy only after the IPO price is set and shares begin trading, using SpaceX's June IPO (priced at $135, opened at $150) as an example. It notes that IPO stocks can swing sharply: SpaceX hit an intraday high of $176.52 on its first day and an all-time high of $225.64 on June 16, then fell to $104.83 on Aug. 3 before closing at $148.58 on Oct. 27. The article also cites Motley Fool research showing that five of the biggest IPOs ever by capital raised had negative returns after three months, and three of the 10 had negative returns five years after listing.
- Hòa Phát's Borrowings Exceed VND 100,000 Billion for the First Time
Hòa Phát's financial debt rose by more than 13,000 billion VND from the end of last year to 105,736 billion VND, its highest level ever, mainly through short-term borrowings. Interest expenses for the period reached 1,774 billion VND, more than double the same period last year, amid an average bank lending rate of 10.7% in August. Its financial position remains healthy, with owners' equity of 149,568 billion VND (up 14%) and cash and deposits of 46,273 billion VND. In Q3, revenue reached 62,669 billion VND, 2.3 times the year-earlier level, with steel sales making up about 96%; after-tax profit was 8,265 billion VND, up 106% from Q3 2025. The steel rail plant project is about 80% complete, with the first product expected to come off the line in Q1 next year.
- Binance Hacker Hunts for Exit Ramps as DeFi Exchanges Pause Markets
Wallets linked to Binance were drained of at least $5.5 billion, and the total is still rising. The funds were moved through the decentralized exchange Uniswap and the lending app Aave, swapping stablecoins that issuers can freeze for ETH, which has no issuer able to freeze it. Stablecoin issuers have frozen more than $2 billion in USDT and USDC, and Ripple has frozen about $200 million in RLUSD, according to Binance co-CEO Yi He. Even so, about 253,000 ETH, roughly $570 million, sat in two wallets with no outgoing transfers as of 22:07 UTC. Aave froze its V3 markets on Ethereum, Kamino paused borrowing in its SOL/BTC market as a precaution, and Binance said it was investigating the security incident but had not confirmed that user funds were affected.
- Đức Giang Chemicals Earns Nearly 2 Billion VND Daily from Bank Deposits
Đức Giang Chemicals earned about 528 billion VND in interest from bank deposits over nine months, or 1.9 billion VND per day, up 18% year on year. As of September 30, it held about 9,761 billion VND in cash and deposits, down more than 3,600 billion VND from the start of the year. Nine-month revenue fell 17.7% to 7,016 billion VND and after-tax profit dropped 46% to 1,369 billion VND, as raw material costs rose sharply and the Khai trường 25 mine stopped operating during an investigation, after the chairman and a vice chairman were arrested in March over alleged violations. Total assets were 16,514 billion VND at September 30, down 15% from the start of the year, and financial debt stood at 1,390 billion VND, all of it short-term.
- JPMorgan Is Bullish on Palantir, Predicts Over 30% Rally on Strong AI Demand
JPMorgan initiated research coverage of Palantir Technologies (PLTR) with an 'overweight' rating and a 12-month price target of $262, a 33% premium to Thursday's closing price. The bank said enterprise focus is shifting toward the AI value creation that Palantir provides, and highlighted demand for 'AI sovereignty', which allows enterprises and governments to independently secure and own their AI capabilities. Palantir is scheduled to report third-quarter results after the market closes on Monday, Nov. 2, with expected revenue of $2.18 billion and earnings of $0.41 per share. PLTR slipped about 0.2% on Thursday and has gained about 5% year-to-date, while 19 of 30 analysts rate the stock 'buy' or 'strong buy', according to Fiscal.ai data.
- Tampered Ledger reported in Singapore a month before news broke: Asia Express
Singapore police say at least two cases involving tampered Ledger hardware wallets have been reported since Sept. 10, with combined losses of about 3.5 million Singapore dollars ($2.7 million). This is almost a month before the wider incident became public, though it is unclear whether the September 10 case was reported at the time, and the October 28 consumer alert described the police investigation as preliminary. On Oct. 9, Ledger issued a public alert about tampered devices found in the CryptoBilis supply chain, and almost $100 million was drained from wallets containing spyware components. On Oct. 13, Ledger asked retailers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to suspend sales of its devices while investigations continue.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.