Back to today’s briefing

Story perspectives

Fed weighs September rate hike amid easing inflation expectations

9/9/2026

10 2 Full Breakdown

Summary

Fed Weighs Hike

Federal Reserve (Fed) officials are weighing a federal funds rate hike at the September 15-16 meeting.
Consumer survey shows one-year inflation expectations at 3.6% and five-year at 3%.
Three-year inflation expectations fell to 3.2% from 3.3% the month before.
Futures markets price a 57% chance of a rate hike and a 41% chance of holding rates.
Fed Governor Christopher Waller said he could keep rates unchanged if inflation eases further.

Summary

Gold Slides

Spot gold fell to $4,405.47 per ounce, down 0.5% at 0211 GMT.
U.S. gold futures for December delivery dropped to $4,452.20, also down 0.5%.
Spot silver slipped to $66.03 per ounce, down 0.2%.
President Donald Trump warned he would halt trade with deficit countries unless the Federal Reserve (Fed) cuts rates.
Iran announced it will intensify efforts to mitigate sanctions-driven economic problems.

History

Historical Context

In August 1979 President Jimmy Carter appointed Paul Volcker as Fed chairman; he raised the federal-funds rate to an average of 11.2% and to a 20% peak in June 1981. The “Volcker shock” cut inflation from a 14.8% March 1980 high to below 3% by 1983 but sparked the 1980-82 recession with unemployment over 10%. Governor Christopher Waller’s contemplated hike recalls that balance.

1 of 3

Fed Weighs Hike

Federal Reserve (Fed) officials are weighing a federal funds rate hike at the September 15-16 meeting.
Consumer survey shows one-year inflation expectations at 3.6% and five-year at 3%.
Three-year inflation expectations fell to 3.2% from 3.3% the month before.
Futures markets price a 57% chance of a rate hike and a 41% chance of holding rates.
Fed Governor Christopher Waller said he could keep rates unchanged if inflation eases further.

1 / 3