Feds Jefferson signals patience as October rate hike odds fall to 23%
Federal Reserve Vice Chair Philip Jefferson has signaled that officials may need more time before changing rates again, as Polymarket odds cited in the latest report have fallen to 23% for an October hike from about 70% last week. The Federal Reserve published Jefferson‘s Oct. 1 remarks to the University of Virginia’s Darden School of Business, where he said future policy changes should depend on economic trends, the outlook and the balance of risks. His speech followed a week in which traders reduced bets on another increase at the Oct. 27–28 meeting. Jeffersons patience lowers expectations for an October Fed rate hike After backing Septembers quarter-point increase, Jefferson said officials would need to form their own assessment of economic conditions before deciding on another move. “My colleagues and I will need to come to our own judgment, which may take more time.” In the same speech, he pointed to rising bond yields across maturities since the September meeting, describing the increase as a sign that investors were reassessing the economy. With additional data, he said, officials could better judge inflation trends and the appropriate policy setting. Jefferson also maintained that inflation risks remained tilted upward, citing geopolitical developments and stronger-than-expected demand. His stated baseline was for









