Business & Markets — October 16, 2026

Fed chief declines to signal hike. Fed Chair Kevin Warsh declined to signal another rate hike ahead of the central bank's meeting in two weeks, saying the economy has "broadly conformed" with expectations.

According to MarketWatch, Warsh made the remarks overnight Thursday, outside regular U.S. trading hours. The outlet reported that his comments, delivered roughly two weeks before policymakers convene, strengthened market expectations that the central bank will leave rates unchanged at its October meeting. His characterization of the economy as performing in line with the Fed's outlook was read as a sign officials see no immediate need for additional tightening.

MarketWatch · Read more →

KFC swaps Pepsi for Coke. KFC is dropping PepsiCo for Coca-Cola as its U.S. beverage supplier for the first time in decades, a major loss for Pepsi in the long-running soda wars.

CNBC Top News · Read more →

Mortgage rates hold at 7.4%. The average long-term U.S. mortgage rate held at 7.4% this week, its highest level in nearly three years, keeping pressure on homebuyers.

AP News · Read more →

Social Security COLA rises 3.6%. Social Security benefits will rise 3.6% in 2027, the largest cost-of-living adjustment in years, as Congress faces decisions that could reshape future benefits.

Forbes · Read more →