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Monetary Policy

Central bank rate decisions, policy stance, and the transition between easing and tightening cycles.

Current stories

investConfirmed4 publishers

A BIS model of rising output and a thinner consumer market sits outside Bitwise's three Bitcoin paths

Bitwise CIO Matt Hougan wrote in his Oct. 14 memo that nearly every macro path ends with Bitcoin higher. A BIS paper from two days earlier models a fourth path, in which CryptoSlate's worked example has output up 10% and the consumer market down 1%.

Perspective Coverage

4 publishers
Builder
Builder 7%
Operator
Operator 24%
Investor
Investor 69%

Reality

Evidence50
Adoption
Not scored
Hype gap+35
Incentives
Not scored
Confidence60
investOne report1 publisher

Warsh calls AI spending a demand shock as markets price another Fed rise in December

Fed Chair Kevin Warsh says AI spending is hitting demand before supply, and the Fed and ECB both raised rates in September. Central bankers at the Bangkok IMF meetings tie the boom to a higher cost of money and to tighter budgets for governments that borrowed when rates hovered near zero.

Reality

Evidence50
Adoption
Not scored
Hype gap
Not scored
Incentives
Not scored
Confidence60
investOne report1 publisher

Advisors in Financial Planning's survey score their own firms 85 points above the global economic system

Financial Planning's survey of 213 advisors puts confidence at minus-2 in October, down from plus-4 in July. Economic and policy outlooks fell while the score for advisors' own practices rose 9 points to plus-35.

Reality

Evidence60
Adoption
Not scored
Hype gap−5
Incentives
Not scored
Confidence60
investConfirmed3 publishers

New York Fed's Williams says AI hardware supply may lag demand beyond two years

New York Fed President John Williams still backs one more rate hike this year, he told Bloomberg on Tuesday. Cointelegraph reported that he sees AI hardware supply taking over two years to catch up with demand, with rates unlikely to slow AI investment.

Perspective Coverage

3 publishers
Builder
Builder 18%
Operator
Operator 25%
Investor
Investor 57%

Reality

Evidence62
Adoption
Not scored
Hype gap+15
Incentives
Not scored
Confidence68
investConfirmed3 publishers

Core CPI at 0.2% would let the Fed skip an October hike even with headline inflation at 3.6%

Economists expect Wednesday's September CPI to show a 0.6% monthly rise as Iran-war energy costs push Brent to about $105. RSM warns forecasts may undershoot, and the Fed's October hike depends on the core reading.

Perspective Coverage

4 publishers
Builder
Builder 5%
Operator
Operator 23%
Investor
Investor 72%

Reality

Evidence62
Adoption
Not scored
Hype gap
Not scored
Incentives
Not scored
Confidence68
investConfirmed10 publishers

Hall and Woodford take the 2026 Nobel in economics for microeconomic foundations of stabilisation

Robert Hall and Michael Woodford won the 2026 Nobel economics prize for microeconomic foundations of macroeconomic stabilisation. The link to central-bank rate signaling comes from Seoul Economic Daily's account of Woodford's work.

Perspective Coverage

11 publishers
Builder
Builder 38%
Operator
Operator 37%
Investor
Investor 25%

Reality

Evidence78
Adoption75
Hype gap+10
Incentives
Not scored
Confidence84
investOne report1 publisher

Nobel winner Woodford points to forward guidance, the practice Fed Chair Warsh scrapped

Michael Woodford, 71, a joint Nobel economics winner, named forward guidance first as his research in use, a practice Fed Chair Kevin Warsh scrapped. The Fed is now scaling back advance signaling on its rate path, en.sedaily.com reported, so markets have less to read.

Publishers:en.sedaily.com

Reality

Evidence45
Adoption
Not scored
Hype gap+25
Incentives
Not scored
Confidence45
investConfirmed17 publishers

Warsh's Jackson Hole debut loads the August payrolls print with 14 basis points of tightening

Odds of a quarter-point September hike jumped to 57% from 40% after the new Fed chairman called the labor market strong, which means a consensus 55,000 payroll gain now argues for tighter money rather than easier policy.

Perspective Coverage

17 publishers
Builder
Builder 10%
Operator
Operator 15%
Investor
Investor 75%

Reality

Evidence68
Adoption
Not scored
Hype gap+25
Incentives30
Confidence62
investOne report1 publisher

Split reasons behind the Fed's hike to 3.75%-4% raise the bar for skipping the next one

Federal Reserve minutes released Oct. 7 show officials backed September's unanimous hike to 3.75%-4% for two different reasons. Because each camp needs different evidence, one soft inflation report probably won't stop another hike, CryptoSlate argues.

Publishers:cryptoslate.com

Reality

Evidence45
Adoption
Not scored
Hype gap+10
Incentives
Not scored
Confidence40
investOne report1 publisher

S&P 500's four-year bull market leans on ten companies that make up 40% of the index

S&P 500's bull market turns four on October 12 with a 117% gain, the sixth-best since World War Two. Its next leg depends on whether a few AI-heavy companies, now a far larger share of the index, can show their data-center spending pays.

Reality

Evidence55
Adoption
Not scored
Hype gap+10
Incentives45
Confidence55
investOne report1 publisher

Fed minutes list AI debt issuance among the forces pushing long Treasury yields higher

Federal Reserve minutes from September record market contacts blaming heavy AI infrastructure borrowing for part of a 35-basis-point rise in Treasury yields. Crypto buyers counting on a Fed pause may find the relief stops short of a 10-year Treasury paying 5.28%.

Publishers:cryptoslate.com

Reality

Evidence55
Adoption
Not scored
Hype gap+25
Incentives45
Confidence50
investConfirmed2 publishers

Oil and 5.3% Treasury yields pull stock futures off record highs before earnings season

US stock futures slid from record highs on Wednesday and Thursday as oil rose and the 10-year Treasury yield sat between 5.28% and 5.33%. With FactSet expecting 29.5% third-quarter earnings growth, how far the rally runs now depends on whether oil keeps pushing bond yields up.

Perspective Coverage

4 publishers
Builder
Builder 5%
Operator
Operator 16%
Investor
Investor 79%

Reality

Evidence64
Adoption
Not scored
Hype gap−15
Incentives
Not scored
Confidence68
investOne report1 publisher

BIS paper warns AI data centres' power demand could blur central banks' inflation readings

BIS Paper No. 174 argues data-centre power demand could blur the capacity-use and inflation readings central banks set interest rates by. A central bank that mistakes a data-centre power bill for overheating could tighten when the economy does not need it.

Reality

Evidence38
Adoption
Not scored
Hype gap+15
Incentives
Not scored
Confidence35
investOne report1 publisher

Fed Governor Waller signals more rate hikes with room to space them out

Fed Governor Christopher Waller said he expects more rate hikes to bring inflation back to 2%, though they need not come at consecutive meetings. For anyone borrowing at short-term rates, the open question is now timing, and the Oct. 27-28 FOMC meeting is the first chance to act.

Reality

Evidence62
Adoption
Not scored
Hype gap+5
Incentives
Not scored
Confidence60
investConfirmed5 publishers

Fed minutes cast September's quarter-point hike as insurance against sticky inflation

Federal Reserve minutes show most officials see room for one more rate increase this year after September's unanimous quarter-point hike to 3.75%-4%. Many officials called it insurance against persistent inflation and committed to no set path.

Perspective Coverage

5 publishers
Builder
Builder 8%
Operator
Operator 28%
Investor
Investor 64%

Reality

Evidence74
Adoption
Not scored
Hype gap+5
Incentives40
Confidence70
leadershipConfirmed3 publishers

IMF chief Georgieva presses governments to stop delaying debt cuts before Bangkok talks

IMF chief Kristalina Georgieva urged governments to stop delaying debt cuts and raise borrowing costs as needed before 191 members meet in Bangkok. Her prescription points companies toward higher rates, while her call to regulate AI stayed at the level of principle.

Perspective Coverage

3 publishers
Builder
Builder 12%
Operator
Operator 35%
Investor
Investor 53%

Reality

Evidence70
Adoption
Not scored
Hype gap+10
Incentives30
Confidence65
investConfirmed3 publishers

Bitcoin gained 38% while CLARITY's odds of passing fell from 39% to 18%

Bitwise's Matt Hougan says the Senate's 49-50 cloture failure will not end the crypto rally, and points to a summer in which prices rose as the odds of passage halved. Only Congress can give the CFTC spot authority.

Perspective Coverage

3 publishers
Builder
Builder 7%
Operator
Operator 13%
Investor
Investor 80%

Reality

Evidence50
Adoption40
Hype gap+30
Incentives60
Confidence55
investConfirmed4 publishers

IMF chief weighs AI's half-point growth lift against record debt and $100 oil

IMF chief Kristalina Georgieva said AI could add up to half a point a year to world growth, with investment set to match or exceed the railroads' share of GDP. The same boom lifts inflation and competes with governments for bond money, so economies outside the AI supply chain risk the higher rates without the growth.

Perspective Coverage

4 publishers
Builder
Builder 15%
Operator
Operator 34%
Investor
Investor 51%

Reality

Evidence55
Adoption
Not scored
Hype gap+15
Incentives40
Confidence62
investConfirmed5 publishers

India's first rate hike since 2023 leaves the repo rate below the RBI's own inflation forecast

India's central bank raised its repo rate 25 basis points to 5.50%, its first increase since February 2023. Governor Sanjay Malhotra expects inflation near 5.8%, so the real policy rate is still negative and the open question for bond and rupee holders is how far the cycle runs.

Perspective Coverage

5 publishers
Builder
Builder 8%
Operator
Operator 26%
Investor
Investor 66%

Reality

Evidence82
Adoption
Not scored
Hype gap+15
Incentives
Not scored
Confidence76

Earlier coverage

  1. ISM's services prices index climbs to 74.0, its highest since July 2022

    Invest · October 6, 2026 · Confirmed2 publishers

  2. BoJ's Uchida warns AI-driven easing of financial conditions could reverse if profits lag

    Invest · October 4, 2026 · Confirmed2 publishers

  3. Fed's Lisa Cook ranks AI's mostly unspent $2 trillion buildout among her top 2027 inflation risks

    Invest · October 1, 2026 · Confirmed2 publishers

  4. Ten-year Treasury yield climbs to 5.30%, its highest since 2002, despite cooler inflation

    Invest · October 1, 2026 · Confirmed4 publishers

  5. RBA hikes for the fourth time this year to 4.60% despite a housing downturn

    Invest · September 29, 2026 · Confirmed2 publishers

  6. Retail's real signal this week is the gap between big-ticket and off-price

    Invest · August 18, 2026 · Confirmed2 publishers

  7. Howard Marks backs Warsh's less activist Fed approach

    Invest · September 20, 2026 · One report1 publisher

  8. Bessent tells AI developers to carry their own legal risk

    Invest · September 21, 2026 · Confirmed2 publishers