Markets price a December Fed hike: core inflation stuck at 3.1 percent

The US Federal Reserve changed nothing on October 28, 2026, and still said a great deal. The target range for the federal funds rate stays at 3.75 to 4.00 percent, yet two members of the Open Market Committee wanted it raised. A day later the Commerce Department reported core inflation of 3.1 percent. For you as an investor, that means the direction of monetary policy has turned. The market now treats a hike on December 8 and 9 as the most likely next move, not another cut. Anyone running leverage, or still weighing a sale this year, has two firm dates in the calendar. The Fed holds its target range at 3.75 to 4.00 percent, with two members dissenting The Open Market Committee, or FOMC, is the body within the Federal Reserve that sets the US policy rate. It adopted its statement of October 28, 2026 by ten votes to two. The majority left the target range where it stood. What stands out is the direction of the two dissents. According to the statement, Lisa D. Cook and Beth M. Hammack voted against the decision because they wanted the range raised by a quarter point at this very meeting. A dissent to the upside is a different thing from the usual calls for patience: two voting members...