Forward Guidance · Saturday, October 31, 2026
Markets largely priced in a pause for the Fed meeting, which resulted in a pause accompanied by two dissents from Hammack and Cook. A small change to the statement upgraded economic activity from a solid pace to a strong pace.
“To no surprise, I think, yeah, markets had broadly priced a pause and we got a pause. We got two descents, Hammack, who's been a regular hawk and Cook, who I think it was her first descent ever. I read, which is interesting. A couple of small changes to the to the note that goes out at the top of the hour. Mostly the upgraded activity expanding from solid pace to strong pace, which is kind of interesting to me.”