Intelligence Feed event · Policy · 2026-09-20

    Fed raises policy rate by 25 bps to 3.75%-4.00% under Chair Warsh

    Question

    Fed raises policy rate by 25 bps to 3.75%-4.00% under Chair Warsh

    Direct answer

    The Federal Open Market Committee executed a unanimous 25 basis point rate increase to 3.75%-4.00% in September 2026. Chair Kevin Warsh highlighted the mandate to move with sufficient speed toward achieving price stability at the 2% target. The move underscores the FOMC's institutional independence amid executive branch pressure for rate easing, pushing front-end yields higher and maintaining upward pressure on cross-asset discount rates.

    Original publisher
    Market Ontology
    Evidence through
    2026-09-20
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “Fed raises policy rate by 25 bps to 3.75%-4.00% under Chair Warsh”, revision 1, evidence through 2026-09-20. https://marketontology.com/market-events/2026-09-20/fed-raises-policy-rate-by-25-bps-to-3-75-4-00-under-chair-warsh-665898

    POLICY
    Fed raises policy rate by 25 bps to 3.75%-4.00% under Chair Warsh
    The Federal Open Market Committee executed a unanimous 25 basis point rate increase to 3.75%-4.00% in September 2026. Chair Kevin Warsh highlighted the mandate to move with sufficient speed toward achieving price stability at the 2% target. The move underscores the FOMC's institutional independence amid executive branch pressure for rate easing, pushing front-end yields higher and maintaining upward pressure on cross-asset discount rates.
    CMEDGS10
    Impact
    88
    SEP 20
    SIG
    90%
    CMEDGS10
    Fed raises policy rate by 25 bps to 3.75%-4.00% under Chair Warsh
    The Federal Open Market Committee executed a unanimous 25 basis point rate increase to 3.75%-4.00% in September 2026. Chair Kevin Warsh highlighted the mandate to move with sufficient speed toward achieving price stability at the 2% target. The move underscores the FOMC's institutional independence amid executive branch pressure for rate easing, pushing front-end yields higher and maintaining upward pressure on cross-asset discount rates.
    → Front-end policy tightening raises short-term borrowing costs across SOFR curves and increases discount rates on growth equities.
    Impact
    The Federal Open Market Committee executed a unanimous 25 basis point rate increase to 3.75%-4.00% in September 2026. Chair Kevin Warsh highlighted the mandate to move with sufficient speed toward achieving price stability at the 2% target. The move underscores the FOMC's institutional independence amid executive branch pressure for rate easing, pushing front-end yields higher and maintaining upward pressure on cross-asset discount rates.
    Affected
    CMEDGS10
    Transmission
    Front-end policy tightening raises short-term borrowing costs across SOFR curves and increases discount rates on growth equities.

    How this development reaches the affected companies

    AssetExposure and channelDirectionEvidence
    CMEhigher trading volumes in interest rate and SOFR derivativesUp1-5dSource explicitly links FOMC policy decisions to CME derivative volume drivers.
    DGS10higher terminal rate pricing lifting the sovereign yield curveUp1-4wFed hike and hawkish guidance lift baseline discount rate expectations.

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    What happened next

    AssetCallBase close+1 day+5 days+20 days
    CMEUpdisagreed276.01 2026-09-18-0.17%-4.18%Pending

    Closing prices from stored daily bars; returns measured from the last close on or before the event date. Not a recommendation.

    No verifiable public source recorded for this card.

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