Fed official Schmid says materials and labor costs could exacerbate housing affordability pressures.

The Federal Reserve published a revised provisional FOMC schedule for 2027 with eight meetings: Jan 26-27, Mar 16-17, Apr 27-28, Jun 8-9, Jul 27-28, Sep 14-15, Oct 26-27 and Nov 16-17. The Oct 26-27 session is designated for a broad monetary policy strategy discussion and will not include a routine interest-rate decision on the second day. The first 2028 meeting is tentatively set for Jan 25-26.

The Federal Reserve accepted $250 mln from one counterparty in its fixed-rate reverse repo operation.