Fed minutes: most officials expect another rate hike this year; U.S. 10-year yield touches highest since 2002
The Fed's September minutes, released October 7, show most participants saw another hike as likely this year; the vote to raise to 3.75-4.00% on September 16 was 12-0 (Babypips, Scotsman Guide, roic.ai, political.org). September's projections: 12 officials for one more hike, four for two, two for none. The S&P 500 closed at 7,801.77 (−0.22%), WTI at $88.28 (−1.30%), gold at $4,140.7 (−1.11%). AP and Reuters reports (via The Star) put the 10-year yield at up to 5.36% intraday, the highest since 2002, and Brent above $100.
Higher U.S. rates and yields pull money out of emerging markets and weaken currencies like the peso.
If the Fed hikes again, the peso may lose more ground, and imports and dollar loans become pricier.
A Fed that stays vigilant keeps inflation expectations in check and protects the dollar's value.
Hiking into a weakening job market risks harming growth at home and abroad.
The minutes look backward; the jobs report looks forward. Watch next week's U.S. inflation figure and whether December hike odds rise.
DailyDrop Philippines edition No. 4 · Morning · THU., OCT. 8, 2026