The Federal Reserve’s new meeting schedule and stubborn inflation set up higher rates and more volatility ahead. Key takeaways The FOMC’s new meeting schedule reduces live rate-setting meetings to seven in 2027 and six by 2028, amplifying volatility around every meeting and data release. Strong GDP, sticky inflation, and tight labor markets keep the December hike firmly live, with market odds near 75%. In a higher-for-longer environment, front-end rates remain attractive, and shorter duration positioning allows flexibility amid intensifying volatility.