Market Brief
Warsh Announces FOMC Strategy Meetings From 2027
The Fed will retain eight annual FOMC meetings, with one strategy-only session planned for 2027 and two expected in 2028, reducing scheduled rate votes.
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The Fed will retain eight annual FOMC meetings, with one strategy-only session planned for 2027 and two expected in 2028, reducing scheduled rate votes.
Kalshi traders favor an October 28 pause and a quarter-point increase in December, with the two decisions priced in separate markets.
The Fed is widely expected to keep rates at 3.75%–4.00% this week, while economists continue to anticipate further tightening in December.
Economists surveyed by Bloomberg expect an October pause as tighter financial conditions weigh on growth, with a December rate increase still forecast.
Reuters says the WEF could name Christine Lagarde chair as early as November, potentially accelerating an ECB leadership reshuffle. No decision is final.
Pierre Wunsch expects further ECB tightening but declined to choose between October and December, citing uncertainty over energy prices and AI.
Italy’s government is seeking an alternative industrial and employment plan as Pfizer prepares to close its Catania plant’s penicillin department.
ISM’s September survey showed continued manufacturing expansion but a sharp increase in input-price pressure, with new orders and employment strengthening.
Initial US unemployment claims declined by 1,000, while continuing claims and the four-week average also fell in the Labor Department’s October 1 report.
U.S. stocks lost roughly $490 billion in 25 minutes after the Fed raised rates by 25 basis points and signaled continued concern about elevated inflation.
U.S. stocks lost roughly $300 billion after Fed Chair Kevin Warsh warned that inflation remains too high, boosting expectations for another rate hike.
A New York Times opinion essay suggests revisiting the ancient Sumerian practice of debt forgiveness as a possible response to the United States' $40 trillion national debt.