United States · Business news · Economy · 02 Oct 2026
After September payrolls rose by only 29,000 against 90,000 forecast and unemployment edged up to 4.2%, Fed officials signalled they would wait for more data before raising rates again. The Fed lifted its policy rate by a quarter point last month with core inflation at 3.4% in August. Futures price roughly a 25% chance of an October hike and a high probability of one in December.
Long-term Treasury yields reached a 24-year high on Thursday and mortgage rates are above 7%, so the timing of the next hike bears directly on housing demand, homebuilders and property owners who must refinance. Banks earn more on new loans at higher rates but carry losses on older bonds and face slower loan demand. A pause in October with a hike in December would leave financing costs high while the labour market is already weakening.
Reported by Reuters via BNN Bloomberg — “Fed may skip October but pull U.S. rate hike trigger in December” ↗ on 02 Oct 2026.
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