The market expects about a 90% probability that the Fed will keep rates unchanged in October

Odaily: GMX 🫐 posted on X that the FOMC will announce its interest rate decision at 2:00 PM ET on October 28, and Warsh will hold a press conference at 2:30 PM. The market expects about a 90% probability that rates will remain unchanged in the 3.75% to 4.00% range, and about an 80% probability of a rate hike in December. Crude oil prices have pulled back, but energy-driven inflation persists; if the stance is hawkish in December, it would typically push up the dollar and yields and put pressure on gold, which is currently around $4,000.