Definition
When markets already expect something, so prices already reflect it before it happens.
The story
On Oct 28, 2026, the Fed held rates, exactly as expected. Stocks closed up just 0.3% (S&P 500 and Nasdaq). Nobody was surprised, so there was little to react to. The hold had been priced in ahead of time.
Why markets watch it
It's why expected news can barely move markets while surprises can move them a lot.
IN HISTORICAL DATA
Latest Fed decisions: Wed, Oct 28, 2026 · As expected
- Decision
- Hold
- S&P 500
- +0.3%
- Nasdaq
- +0.3%
- Gold
- Spot $4,035.48/oz, down 0.60%
History, not a prediction. Every row lists its sources.
All Fed decisions →See it in the story
Connects to
Last seen in
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms