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Thoughts on the Market

Thoughts on the Market

One Fed Hike—Or More to Come?

Sep 16, 2026 · 12m

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Our Global Head of Macro Strategy Matthew Hornbach joins our Chief U.S. Economist Michael Gapen to discuss the Fed’s potential next moves and how energy prices are influencing market expectations.Read more insights from Morgan Stanley.----- Transcript -----Matthew Hornbach: Welcome to Thoughts on the Market. I'm Matthew Hornbach, Global Head of Macro Strategy at Morgan Stanley.Michael Gapen: And I'm Michael Gapen, Morgan Stanley's Chief U.S. Economist.Matthew Hornbach: Today, what the Federal Reserve decided at its September meeting and what it could mean for rates through the end of the year.It's Wednesday, September 16th at 4pm in New York.So, Mike, the Fed raised rates by 25 basis points…