No November 2026 rate cut is scheduled. As of October 5, the Federal Reserve’s calendar lists no policy meeting in November: its next scheduled decision follows the October 27–28 meeting, at the December 8–9 meeting. The Fed’s latest move was a rate increase, not a cut, and the evidence available so far does not establish that a cut is coming.
Is the Fed cutting rates in November?
There is no regularly scheduled November 2026 meeting at which the Federal Open Market Committee (FOMC) would announce a policy decision. The calendar lists November 18 as the release date for minutes from the October meeting. Minutes document discussion; they are not a new rate decision. The next scheduled decision meeting after October 27–28 is December 8–9. See the FOMC calendar.
That schedule does not prevent expectations from changing as new data arrive, and a scheduled meeting does not guarantee any particular move. But “a cut next month” is not supported as a scheduled November event.
What does the latest Fed decision show?
On September 16, the FOMC raised its target range by 0.25 percentage point, to 3.75%–4.00%. Its statement said economic activity was expanding at a solid pace, job gains had kept pace with the workforce, and inflation remained elevated. The Committee said the increase would support a timelier return to its 2% inflation goal; the statement was approved 12–0. Read the September 16 FOMC statement.
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That is the latest official policy action available as of October 5—not evidence that the Fed has decided what to do at a later meeting.
What do the Fed’s projections say about rates and inflation?
The September projections put the median federal funds rate projection for the end of 2026 at 4.1%. The midpoint of the then-current target range was 3.875%. The projection is not a promise or a forecast of the most likely outcome: it represents individual policymakers’ judgments about appropriate policy under their own assumptions.
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The same projections put median PCE inflation at 3.7% for 2026 and 2.3% for 2027, with a longer-run median of 2.0%. These are fourth-quarter-to-fourth-quarter projections based on information available at the September 15–16 meeting. They indicate that policymakers still saw inflation above target in the near term. Details appear in the Fed’s September 2026 Summary of Economic Projections.
Does September’s weak jobs report make a cut more likely?
The September employment report showed payrolls rising by 29,000 and unemployment at 4.2%, up from 4.1% in August, according to U.S. Labor Department data reported by the Associated Press. AP said the softer labor figures might make the Fed more inclined to hold at its next meeting rather than raise rates. But one monthly report does not establish that the Fed will cut, particularly while inflation remains above its 2% goal.
What have Fed officials said about another move?
New York Fed President John C. Williams said in a September 29 speech that the September policy action left time to gather more information. “With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information,” he said. Williams also said one further increase late in the year could be appropriate if conditions followed his forecast. He described that as his own forecast, not a decision by the full Committee. Read his speech, “Unwavering Dedication”.
When is the next Fed meeting?
As of October 5, the next scheduled FOMC policy meeting is October 27–28, 2026. The following scheduled meeting is December 8–9. November 18 is when minutes from the October meeting are due to be released; that publication is not a policy meeting or a rate announcement. The official calendar provides the dates.
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What could a Fed rate move mean for your borrowing or savings?
A change in the federal funds target is not an automatic, one-for-one change to a household’s mortgage, credit-card, auto-loan, or savings-account rate. The effects depend on the product and lender, and the evidence available here does not quantify changes for particular consumer rates. For a household decision, check the actual rate, terms, and any upcoming adjustment date on the specific account or loan rather than treating a possible Fed move as a guaranteed change.
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