- Fed Chair Kevin Warsh plans to reduce the number of rate-setting FOMC meetings beginning in 2027, giving the committee more time to discuss long-term monetary policy strategy.
- October ISM PMI rose to 55.5 from 54.5 in September, with production at its highest since November 2021.
- The ISM Prices Paid index fell to 75.2 from 77.9 but still rose for a 25th straight month.
- RateWatch data put the probability of a December Fed hike at 77.8% as of 4:14 PM ET.
Quotes
“Prices Paid still rising for a 25th month”