The Fed Hiked. Now the Rate Markets Are Pricing Another One.
The chairs continue to talk about the Fed's policy framework as data-dependent, which is what makes the front end so responsive to each CPI print.
The Federal Reserve hiked last week. On September 17 the FOMC raised the target range 25 basis points, taking the upper bound to 4.00 percent, per Federal Reserve H.15 data. Chair Kevin Warsh's statement flagged persistent inflation as the driver. That was the event every rate market on Kalshi and Polymarket had been trading for six weeks. The interesting question now is what the venues say about the follow-up, and the follow-up is where the action is.
Key Takeaways The Fed raised the target range 25 basis points on September 17, taking the upper bo…
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