Macro
Oct 28, 2026 6 min read
Fed Pause Explained: What Today's Hold at 3.75–4.00% Means for the Dollar, Gold and Stocks
The Federal Reserve is expected to pause today, 28 October 2026, leaving the target range at 3.75–4.00% with a hold priced above 90%. A pause is not a pivot: September inflation was 3.7%, payrolls rose only 29,000, the last minutes said most participants saw another increase before year-end, and every one of 100 economists surveyed expects a December hike. This guide explains what a Fed pause actually is, why this one is a skip rather than an end, how the dollar, gold and equities have behaved after past pauses, and what to watch at 18:00 and 18:30 UTC.
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