# Warsh: Fed Rate Decisions Data-Dependent

> Fed Chair Warsh says October and December rate meetings will depend on economic data, not pre-set actions.
- Title: Warsh: Fed Rate Decisions Data-Dependent · BigGo Finance
- Summary: Fed Chair Warsh says October and December rate meetings will depend on economic data, not pre-set actions. Federal Reserve Chair Kevin Warsh stated October…
- Keywords: federal reserve, imf, world bank, fomc, consumer price index, kristalina georgieva, meghan swiber, joseph brusuelas, guy lebas, finance, markets, Warsh
- Source: BigGo Finance — https://finance.biggo.com/news/9607a735-1533-498e-8679-aee427774816
- Author: BigGo Finance
- Published: 2026-10-16T04:55:23+00:00
- Read time: 1 min
- Topics: federal reserve, imf, world bank, fomc, consumer price index, kristalina georgieva, meghan swiber, joseph brusuelas, guy lebas, finance, markets
## Warsh's October and December Meeting Stance
Federal Reserve Chair Kevin Warsh said October and December FOMC meetings will be decided based on economic, employment, and inflation data available at the time.

> FOMC conclusions will not be pre-determined, and I don't think we should be saying at this stage what actions the meetings for the rest of the year will take
## September CPI Data Release
September Consumer Price Index rose 3.7% year-over-year with core inflation exceeding expectations for a second consecutive month.

> Headline CPI rose 3.7% year-over-year, with core inflation exceeding market expectations for a second consecutive month
## Market Reaction to CPI Data
Futures market pricing briefly pushed October rate hike odds to 55% before settling back to around 40%.

> The breadth of price increases this time is quite wide, and the Fed will find it hard to ignore
## Fed's Structural Growth Phase
Warsh noted the U.S. is in a phase of structural growth with investment surge driven by policy support.

> The surge in investment is the most important development among global economic upside factors
## Dovish Officials' Reaction
Dovish officials felt like they'd taken a sip of cold coffee after seeing September CPI data.

> You could sense that the doves on the committee felt like they'd just taken a sip of cold coffee when they saw the September CPI numbers
## Market Strategy for October
Bank of America strategist Meghan Swiber said investors are waiting for Warsh to give green light on Fed rate continuation.

> investors are 'waiting for Warsh to give the green light on Thursday for the Fed to continue hiking'
## AI Impact on Economy
Warsh said AI improves economic efficiency but short-term employment impact remains uncertain.

> AI will transform the real economy, helping to improve economic efficiency and bolstering central banks' confidence in data and monetary policy
## October Meeting Uncertainty
October FOMC meeting has become a 'live meeting' with genuinely uncertain outcome.

> The October meeting has thus become a 'live meeting' with a genuinely uncertain outcome
## Key takeaway

Federal Reserve Chair Kevin Warsh stated October and December FOMC meetings will be data-driven with no pre-determined policy actions for the remainder of the year.