Aurora Macro Strategies

FOMC Update: Pause and Effect

October 28, 2026

USCross-Asset

The Fed held rates steady with two hawkish dissents, leaving markets to debate whether the pause is merely a bridge to a December hike. Aurora assesses the FOMC’s political and inflation risks, Kevin Warsh’s unusual forward guidance, and why the AI investment boom remains sensitive to financial conditions.

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FOMC Update: Pause and Effect