The Federal Reserve’s September 2026 Summary of Economic Projections, showing a median federal funds rate of 4.1% through year-end 2027, anchors trader consensus for zero cuts in 2026 at over 95% implied probability. Elevated core PCE forecasts at 3.4% for 2026 and resilient growth projections have reinforced the hawkish stance following the September 25-basis-point hike, with markets pricing limited easing amid sticky inflation. Recent softening in September payrolls to just 29,000 jobs has tempered near-term hike odds but has not shifted the broader rate path. A sharper labor-market deterioration or faster-than-expected disinflation could reopen the door to cuts, though current data and policy signals continue to support the no-cut baseline.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · UpdatedView resolved

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