The Federal Reserve is expected to hold interest rates steady at its meeting next week, despite stubbornly high inflation and markets pricing in at least one rate hike before year-end. At its September meeting, the FOMC raised the federal funds target range to 3.75% to 4.0%, its first increase in three years, while the PCE inflation gauge reached 3.9% in May, a three-year high, after missing the 2% target for more than five years. The decision, due at 2:00 pm local time (18:00 GMT) on Wednesday, comes days before the November 3 midterm elections. Former Cleveland Fed head Loretta Mester argued the data call for continued hikes but said policymakers may wait until early December, while Brookings’ Wendy Edelberg said the Fed would prefer to avoid political debate before the vote. The article also covers Trump’s pressure on the central bank, including efforts to remove Governor Lisa Cook.
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Original headline: Fed expected to hold rates steady days ahead of U . S . midterms
Read the original on bnnbloomberg.ca ↗
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Fedinterest ratesinflationmidterm elections
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DXY
• NeutralRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 101.74 |
| Change that session | +0.11% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
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| Sector | ETF |
| Close on 10/23/2026 | 759.97 |
| Change that session | -0.52% |
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