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Fedinterest ratesinflationGDP growth
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 102.14 |
| Change that session | -0.22% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.35 |
| Change that session | +0.35% |
XAU/USD
▼ Likely negativeRelevance: low
| Market | Gold |
|---|---|
| Close on 10/28/2026 | 4,067.54 |
| Change that session | +0.18% |
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%.
- Third-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates
The Commerce Department reported that U.S. GDP grew at a seasonally adjusted annualized pace of 3.4% in the third quarter, above the 3.1% estimate and well up from 2.2% in the second quarter. Consumer spending rose 0.5%, slightly below the forecast of 0.6%, while personal income increased 0.2% against a forecast of 0.3%. The same day, the personal consumption expenditures (PCE) price index rose 0.5% in September from the prior month, lifting annual inflation to 3.6%; the monthly rate matched the Dow Jones consensus, while the annual rate was 0.1 percentage point below consensus. Core PCE, which excludes food and energy, rose 0.3% monthly and 3.1% annually, in line with consensus. A day earlier, the Fed held its benchmark rate in a 3.75%-4% range, and Chairman Kevin Warsh said officials want to assess incoming data before deciding their next move.
- Fed Holds Rates Steady Despite Rising Inflation, Two Officials Push for Immediate Hike
The Fed kept its benchmark rate at 3.75-4% after its October 28 meeting, saying inflation remains elevated and more data is needed to return it to the 2% goal. The decision was not unanimous: Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, preferring a 0.25 percentage point increase. Inflation has been above the Fed's 2% target for more than five years, and the PCE index is forecast to exceed 3% in September even excluding food and energy. The U.S. economy remains resilient, with low unemployment, steady consumer spending and AI investment supporting growth; the Atlanta Fed's GDPNow forecasts third-quarter GDP growth of 3.4% annualized. Observers are watching the November 3 midterm elections, while futures markets lean toward a rate hike in December.
- Inflation , earnings reports and the mood of consumers and the Federal Reserve fill out a busy week
This week brings a busy slate of data on inflation, corporate earnings, consumer confidence and the Federal Reserve, just weeks before the Nov. 3 midterm elections. Consumer confidence fell in September to its lowest level in more than a decade and is expected to keep weakening in October as higher gas and grocery prices squeeze budgets. The Fed is expected to hold its benchmark rate steady after a hike in September, though it remains worried about inflation, and Wall Street still expects one more hike in December. Third-quarter GDP is forecast to rise 1.7%, slower than 2.2% in the second quarter. The PCE inflation gauge, the Fed's preferred measure, is expected to jump to 3.7% from 3.4% in August, as the U.S. war with Iran squeezes global oil supplies.
- Inflation , earnings reports and the mood of consumers and the Federal Reserve fill out a busy week
A busy week of data ahead includes inflation, consumer confidence, third-quarter GDP and big earnings reports, arriving just weeks before the Nov. 3 midterm elections. Consumer confidence is expected to keep weakening in October after plunging in September to its lowest level in more than a decade, as higher gas and grocery costs squeeze household budgets. The Fed is expected to hold its benchmark rate steady at the meeting ending Wednesday, following a hike in September, though Wall Street still expects one more hike in December. Economists forecast GDP growth of 1.7% in the third quarter, down from 2.2% in the second, and the PCE inflation measure, the Fed's preferred gauge, is expected to rise to 3.7% from 3.4% in August. The U.S. war with Iran has essentially shut down the Strait of Hormuz and squeezed global oil supplies, pushing up gasoline and shipping costs.
- Economists unanimously expect Fed rate hike in December
Expectations for a Fed rate hike in December have surged, with all 100 economists in a Reuters poll (October 16–20) now forecasting one, versus fewer than half in last month's survey. For the October 27–28 meeting, 94 of 100 economists expect the federal funds rate to stay at 3.75 percent–4.00 percent. Nearly 60 percent expect the policy rate to peak at 4.00 percent–4.25 percent, and 38 of 92 respondents forecast at least two more increases. Inflation has stayed above the Fed's two percent target for nearly six years, while higher energy costs and new tariffs add price pressures; U.S. growth was 2.2 percent in the second quarter and is forecast at 3.2 percent in the third.
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- BC-Most Active Stocks
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- Bank of England opens consultation on tokenized collateral for clearing
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