The minutes of the FOMC meeting released October 7 show Kevin Warsh and fellow policymakers planning another rate hike in 2026, as September CPI rose 3.7% year over year. The article suggests the Fed may raise rates by a quarter point or possibly half a point before year-end, with the remaining meetings on October 28 and December 9. Higher rates have historically weighed on stocks in the short run, as in 2022 when the S&P 500 fell about 19% and the Nasdaq-100 about 33%, but the author sees current adjustments as smaller and says long-term investors should not panic. Citing Vanguard research, the article notes rates may need to rise at least a percentage point before the stock market suffers significant negative effects.
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: high
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 101.98 |
| Change that session | +0.20% |
EUR/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 1.12125 |
| Change that session | -0.24% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/19/2026 | 718.36 |
| Change that session | +1.21% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/19/2026 | 766.48 |
| Change that session | +0.42% |
XAU/USD
▼ Likely negativeRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/19/2026 | 4,140.75 |
| Change that session | -0.60% |
AUD/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 0.69799 |
| Change that session | +0.49% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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