The Fed described the labor market as near full employment and noted that the current staff economic outlook was stronger than the forecast prepared in July. Spot gold prices fell 1.3% to $4,109.71 per ounce and the US dollar index rose 0.31% to 102.22 after the release. The guidance on further tightening comes as market odds for a rate hike in October had recently dropped to 20% from 55%.
Tuesday, October 20, 2026
Story
Most Fed Officials Expect Another Rate Hike by Year End in September Minutes
US Markets13 days ago
All 19 members of the Federal Open Market Committee unanimously supported the 25 basis point interest rate increase at the September 15-16 meeting, according to newly released minutes. A majority of officials judged that another increase to the federal funds rate would likely be appropriate by the end of 2026 as inflation remains elevated. Almost all participants viewed inflation risks as tilted to the upside, with some warning that the AI investment boom could push aggregate demand beyond supply and increase price pressures.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.