September 2027 FOMC Meeting: Rate Probabilities
September 14–15, 2027 · decision Wednesday, September 15, 2027, 2:00 PM ET · with economic projections (dot plot)
Odds now
liveProbabilities implied by 30-day Fed Funds futures (/ZQ), the same numbers as Fed Watch.
How the odds have moved
change in Hold odds| Reading | Date | Hold | 25bp hike | Change | Implied |
|---|---|---|---|---|---|
| Now | Nov 10 | 92% | 8% | — | +2 bp |
| Previous close | Nov 9 | 96% | 4% | −4 pts | +1 bp |
| 1 week earlier | Nov 3 | 88% | 12% | +4 pts | +3 bp |
| 1 month earlier | Oct 9 | 80% | 20% | +12 pts | +5 bp |
Earlier readings are the futures-implied odds at each day’s close. Change is the move in the odds of today’s likeliest outcome; Implied is the expected rate change at the meeting.
Odds since Sep 16, 2026
Weekly readings (9 weeks, newest first)
| Week ending | Hold | 25bp hike | Implied | EFFR after |
|---|---|---|---|---|
| Nov 10, 2026 (live) | 92% | 8% | +2 bp | 4.390% |
| Nov 6, 2026 | 92% | 8% | +2 bp | 4.355% |
| Oct 30, 2026 | 92% | 8% | +2 bp | 4.465% |
| Oct 23, 2026 | 86% | 14% | +4 bp | 4.560% |
| Oct 16, 2026 | 92% | 8% | +2 bp | 4.590% |
| Oct 9, 2026 | 80% | 20% | +5 bp | 4.690% |
| Oct 2, 2026 | 78% | 22% | +6 bp | 4.735% |
| Sep 25, 2026 | 88% | 12% | +3 bp | 4.775% |
| Sep 18, 2026 | 98% | 2% | +1 bp | 4.670% |
Each day’s close of the futures-implied odds for this meeting, ending on the live reading. The futures price a meeting from about a year out, so this meeting’s history starts Sep 16, 2026; the daily record on this site starts July 30, 2025.
Meeting details
- Dates
- September 14–15, 2027
- Statement
- 2:00 PM ET, Wednesday, September 15, 2027
- Press conference
- 2:30 PM ET
- Projections
- Yes: Summary of Economic Projections and the dot plot
- Minutes
- About three weeks after the decision, around Oct 6, 2027
Other meetings
Every meeting since September 2025, with the decision and the odds before it, is on the FOMC meetings page. Live odds for all upcoming meetings, the implied rate path and the futures strip are on Fed Watch.
Questions
When is the September 2027 FOMC meeting?
The Federal Open Market Committee meets September 14–15, 2027. The rate decision and statement come at 2:00 PM ET on Wednesday, September 15, 2027, followed by the Chair's press conference at 2:30 PM ET. This meeting also publishes a new Summary of Economic Projections (the dot plot).
What are the odds of a rate hike at the September 2027 Fed meeting?
As of November 10, 2026, Fed Funds futures (/ZQ) price a 92% chance of no change and an 8% chance of a 25 bp hike at the September 2027 meeting, an expected change of +2 bp. The target range is currently 3.75–4.00%.
How have the odds for the September 2027 FOMC meeting changed?
The odds of no change are 92% as of November 10, 2026; a week earlier (Nov 3, 2026) they were 88%; a month earlier (Oct 9, 2026) they were 80%. The daily record for this meeting starts September 16, 2026.
How are these probabilities calculated?
Each 30-day Fed Funds futures contract (/ZQ) settles at 100 minus the average effective federal funds rate (EFFR) over its month. The contract for the meeting month, or for the next month without a meeting, gives the rate the market expects after the decision. The gap from the rate going in, measured against 25 bp steps, is split into probabilities for each outcome.