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Investment Event

Fed loses patience
17 September 2026
    Download the full report (PDF, 1.76MB)


    Key takeaways:

    • The Fed delivered a 25bp rate hike aimed at managing upside inflation risks
    • The FOMC projections show a large majority of members see the funds rate settling in the 4.00-4.50 per cent range in 2027
    • The mix of the AI boom and supply side shocks mean interest rates are set to be higher-for-longer
    • 10-year UST yields around 5% are a ‘return to normal’ and can provide investors with income. But portfolio resilience will require ‘diversifying the diversifiers’
    • In stock markets, we are positioned for broadening out given more attractive valuations outside the US