Fed Chair Warsh refrained from signalling the outcome of this month’s FOMC meeting, but said hotter-than-expected inflation had not altered his assessment of the US economy, prompting traders to further scale back expectations of an October rate hike. Speaking at an IMF summit in Bangkok, Chair Warsh said that “I don’t prejudge meetings. I don’t believe in saying now what I might do at the meetings that we have in the balance of this year”, but added that “the world has broadly conformed with our expectations”. He also reiterated his concerns over persistent inflation, noting that central banks in the US and elsewhere recognised that price pressures remained uncomfortably elevated. The Fed raised the fed funds rate by 25 basis points 3.75%-4% in September 2026, marking its first increase since 2023. All 19 policymakers backed the move, while a majority also projected a further hike before year-end.