Key points
Market-implied fed funds rate, Fed Funds futures (Jan-2026 to Jan-2027) ｜ End-2026 now seen at 4.22% vs 3.05% at the start of the year, a swing from cuts to hikes
Image source: @charliebilello
2026-09-23
Market Now Sees Fed Funds at 4.22% by End-2026, Versus 3.05% Expected at the Start of the Year