Recent October CPI readings showing persistent inflation pressures above 3% year-over-year, alongside Q3 GDP growth exceeding 3% and a firm labor market with unemployment near 4.1%, have reinforced trader expectations for a higher-for-longer policy path under Chairman Kevin Warsh. These developments, combined with resilient consumer spending and energy price effects, support the 63% implied probability of no change at the April 27-28, 2027 FOMC meeting while sustaining a 24% chance of a 25 basis point hike. Market-implied odds reflect skin-in-the-game consensus pricing in potential further tightening after an anticipated December 2026 move, though the non-SEP April gathering leaves room for data-dependent shifts ahead of key releases.