
Strength in Employment Settles December Rate Debate
Published on November 9, 2026
The strong October nonfarm payrolls report has effectively settled the debate over what the Federal Reserve (Fed) is likely to do at its December Federal Open Market Committee (FOMC) meeting. We expect the Fed to raise the federal funds rate by another 25 basis points. Beyond December, however, the outlook remains far less certain. We continue to expect the Fed to remain on hold throughout 2027.
