# Will the Fed Pause–Pause–Pause in the next three decisions (Jun–Jul–Sep)?

<table class="pythia-summary">
<tr><th>Predicted at</th><td>2026-08-12 09:34 UTC</td></tr>
<tr><th>Prediction</th><td><strong>54.8%</strong></td></tr>
<tr><th>Market (at prediction)</th><td>60.5%</td></tr>
<tr><th>Market (live)</th><td><span class="pythia-live-price" data-token-id="32301123322534888580370968664732988978439792579405897302876890222142550059194">—</span></td></tr>
</table>

## Analysis

The Federal Reserve's interest rate trajectory remains highly sensitive to incoming inflation data and labor market indicators. Recent official data releases show fluctuating inflation trends, which complicate the committee's path toward a sustained pause across the summer months. Market sentiment has shifted toward expecting a pause in September, reflecting a broader consensus that economic conditions may not necessitate further hikes. However, uncertainty persists regarding the June and July decisions as policymakers weigh these economic signals against their long-term targets. Proprietary signals suggest that while a pause is increasingly anticipated, the committee maintains flexibility to adjust based on evolving macroeconomic conditions.

## Key Evidence

June 17 and July 29 FOMC holds at 3.50-3.75% are confirmed (market reduces to P(September pause)). CME FedWatch/futures price ~44-50% September hike (Deutsche Bank: 44% post-payrolls); July FOMC vote was 9-3 with three hike dissents; July payrolls -23k weakened the hike case.

---

[View on Polymarket](https://polymarket.com/event/2118801)