Persistent inflation and resilient economic growth are shaping expectations around Federal Reserve policy, with the target range holding at 3.75%-4.00% following the September 25-basis-point hike. September CPI came in at 3.7% year-over-year and core at 2.6%, above the 2% target amid energy price pressures and tariffs, while the labor market remains stable. Economists overwhelmingly anticipate a hold at the October 27-28 FOMC meeting before another increase in December, aligning with market pricing and recent communications from officials emphasizing patience over consecutive moves. Key upcoming data releases on jobs, CPI, and PCE will influence the December decision and any revisions to the dot plot.