Fed Delivers September Hike and Signals Another Increase

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The September 15–16 decision confirmed a unanimous 25-basis-point hike to 3.75%–4.00%. The SEP’s roughly 4.1% 2026 policy-rate median supports expectations for one more increase, most likely in December, while new commentary reinforces rather than changes the possibility that the move was not one and done.

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Updated Sep 20, 2026

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