Elevated inflation and a resilient U.S. economy continue to anchor trader expectations for the FOMC’s remaining 2026 meetings. After the September 25-basis-point hike to the 3.75–4.00 percent target range, the October 28 decision to hold rates—with two dissents favoring another increase—reflected policymakers’ emphasis on persistent price pressures and strong growth, including upward revisions to GDP and core PCE projections. Market-implied odds heavily favor a December hike at the final meeting, consistent with the dot plot’s median path of 4.1 percent by year-end and futures pricing near 80–85 percent for further tightening. Incoming October CPI data and labor-market releases will shape the final assessment before the December 9 decision and updated projections.