Fed's interest rate decision to be announced this evening, Warsh to hold press conference

The U.S. Federal Reserve (Fed) will announce its new interest rate decision at 21:00 Turkish time this evening. Fed Chairman Kevin Warsh will address the press at 21:30. Markets expect the Fed to keep interest rates unchanged with a probability of over 90%. There will be no meeting in November, and the last interest rate decision of the year will be announced on December 9. Warsh is expected to emphasize the persistence of high inflation and signal a message for interest rate hikes. In September, the Fed raised rates by 25 basis points for the first time in nearly three years. Markets also anticipate a 25 basis point increase at the meeting on December 9. Allianz Chief Economist Mohamed El-Erian predicts that the Fed will implement further rate hikes in 2027. Deutsche Bank executive Brett Ryan stated that Warsh will convey the message that more rate hikes will be necessary due to high inflation. Citi expects interest rate cuts in 2027.

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