Fed to vote on rates less often, CNBC reports
cnbc.com reported that Fed Chairman Kevin Warsh said he plans to reduce the number of rate-setting votes, and some economists said the move could delay relief for borrowers.
Developing storyCNBC: Midterms historically precede a strong S&P 500 year2 reports · latest 52 min agoTimeline →What happened
What happened
cnbc.com reported on Nov 2, 17:03 UTC that Fed Chairman Kevin Warsh said he plans to reduce the number of rate-setting votes. The report named the change in voting frequency as a proposal by the Fed chairman.
The story said some economists say that move could delay relief for borrowers.
Politics & Macro market context
Politics & Macro market context
At Nov 2, 18:00 UTC the SPY ETF was $758.33 and rose 0.35% from the prior close; the GLD ETF was $362.71 and rose 1.95% from the prior close; and the USO ETF was $157.16 and fell 6.91% from the prior close. At Nov 2, 17:59 UTC the UUP ETF was $28.95 and fell 0.17% from the prior close. Finnhub.
| Instrument | Last | Change | Basis | As of | Source |
|---|---|---|---|---|---|
| S&P 500 (via SPY ETF) | $758.33 | +0.35% | vs prior close | Nov 2, 18:00 UTC | Finnhub |
| US Dollar Index (via UUP ETF) | $28.95 | -0.17% | vs prior close | Nov 2, 17:59 UTC | Finnhub |
| Gold (via GLD ETF) | $362.71 | +1.95% | vs prior close | Nov 2, 18:00 UTC | Finnhub |
| WTI Crude Oil (via USO ETF) | $157.16 | -6.91% | vs prior close | Nov 2, 18:00 UTC | Finnhub |
Related coverage
Related coverage
Yahoo published “If the Fed Raises Interest Rates Again in 2026, I Predict These ETFs Will Be the Smartest Buys.” wealthmanagement.com published “Views from 6,230: Jay Hatfield Says Fed Is Too Hawkish.”
- Fed will vote on rates less often. What that could mean for borrowers — cnbc.com, Nov 2, 17:03 UTC
- If the Fed Raises Interest Rates Again in 2026, I Predict These ETFs Will Be the Smartest Buys — Yahoo, Nov 2, 15:05 UTC
- US election: The key races that could tip control of Congress — Forexlive, Nov 2, 13:58 UTC
- Views from 6,230: Jay Hatfield Says Fed Is Too Hawkish — wealthmanagement.com, Nov 2, 14:05 UTC
- Stock market after midterm elections: What S&P 500 history shows — CNBC, Nov 2, 15:41 UTC
What to watch
What to watch
The Job Openings and Labor Turnover Survey is scheduled for Tue Nov 3, 15:00 UTC (bls). The International trade balance (BEA/Census) is scheduled for Wed Nov 4 (time not confirmed) (fred). The Bank of England rate decision and Monetary Policy Report is scheduled for Thu Nov 5, 12:00 UTC (bankofengland); Productivity and Costs is scheduled for Thu Nov 5, 13:30 UTC (bls).
- Tue Nov 3, 15:00 UTC — Job Openings and Labor Turnover Survey (US) (source)
- Wed Nov 4 (time not confirmed) — International trade balance (BEA/Census) (US) (source)
- Thu Nov 5 (time not confirmed) — Weekly jobless claims (DOL) (US) (source)
- Thu Nov 5, 12:00 UTC — Bank of England rate decision and Monetary Policy Report (GB) (source)
- Thu Nov 5, 13:30 UTC — Productivity and Costs (US) (source)
Sources and data
- cnbc.com (secondary source) — Fed will vote on rates less often. What that could mean for borrowers
- Yahoo (secondary source) — If the Fed Raises Interest Rates Again in 2026, I Predict These ETFs Will Be the Smartest Buys
- Forexlive (secondary source) — US election: The key races that could tip control of Congress
- wealthmanagement.com (secondary source) — Views from 6,230: Jay Hatfield Says Fed Is Too Hawkish
- CNBC (secondary source) — Stock market after midterm elections: What S&P 500 history shows
- Finnhub (market data) — market data
- U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
- U.S. Bureau of Labor Statistics (primary source) — calendar
- U.S. Energy Information Administration via FRED (primary source) — calendar
- Bank of England (primary source) — calendar
- Federal Reserve (primary source) — calendar
- European Central Bank (euro reference rates) (primary source) — calendar
Market data as of Nov 2, 18:00 UTC; report generated Nov 2, 18:00 UTC. All times are UTC. Each table row shows its own timestamp and provider.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.
Terms in this article
Federal Reserve (Fed)
The US central bank, with a dual mandate of maximum employment and stable prices.
Exchange-traded fund (ETF)
A fund that trades on a stock exchange like a share, usually tracking an index, sector, commodity or strategy.
S&P 500
A float-adjusted, market-cap-weighted index of about 500 leading US companies selected by a committee at S&P Dow Jones Indices.
Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
US Dollar Index (DXY)
An index of the US dollar's value against a basket of six currencies: the euro (the largest weight, about 58%), Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.
Sources & data
- cnbc.com (secondary, retrieved Nov 2, 2026, 06:03 PM UTC)
- Yahoo (secondary, retrieved Nov 2, 2026, 06:03 PM UTC)
- Forexlive (secondary, retrieved Nov 2, 2026, 06:03 PM UTC)
- wealthmanagement.com (secondary, retrieved Nov 2, 2026, 06:03 PM UTC)
- CNBC (secondary, retrieved Nov 2, 2026, 06:03 PM UTC)
- Finnhub (market-data, retrieved Nov 2, 2026, 06:03 PM UTC)
- U.S. Treasury and Federal Reserve Board via FRED (primary, retrieved Nov 2, 2026, 06:03 PM UTC)
- U.S. Bureau of Labor Statistics (primary, retrieved Nov 2, 2026, 06:03 PM UTC)
- U.S. Energy Information Administration via FRED (primary, retrieved Nov 2, 2026, 06:03 PM UTC)
- Bank of England (primary, retrieved Nov 2, 2026, 06:03 PM UTC)
- Federal Reserve (primary, retrieved Nov 2, 2026, 06:03 PM UTC)
- European Central Bank (euro reference rates) (primary, retrieved Nov 2, 2026, 06:03 PM UTC)
Market data as of Nov 2, 2026, 06:00 PM UTC.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.
Ask about this story
Questions are answered only from this article and the sources it cites.
MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.
Was this useful?
Report an issue with this article
Related coverage
USO ETF leads losses as GLD ETF rises
As of Nov 2, 18:45 UTC the USO ETF fell 6.66% while the GLD ETF rose 1.87%; the SPY ETF and UUP ETF moved modestly from the prior close.
MarketAlleys Research Desk · · 3 min read
SPY ETF at $758.43; five-session change -0.56%
The SPY ETF was $758.43 as of Nov 2, 18:29 UTC, rose 0.36% from the prior close and is down -0.56% over five sessions, according to Finnhub.
MarketAlleys Research Desk · · 4 min read
Needham’s Laura Martin: 'We need to watch what's happening in China' on Apple
CNBC reported Nov 2 that Needham analyst Laura Martin joined 'Squawk on the Street' to discuss Apple’s earnings, the company’s new CEO and developments in China.
MarketAlleys Research Desk · · 3 min read
CNBC: Tech sell-off highlights opportunities in defensives, energy and metals
CNBC reported on Nov 1, 22:43 UTC that K2 Asset Management’s George Boubouras said last Friday’s tech sell-off "isn't panic" and that defensives, energy and metals could offer potential hedges while Apple’s earnings are key to gauging demand.
MarketAlleys Research Desk · · 3 min read