Sent to clients Friday, October 30, 2026 · by Dan Casey
Three things happened this week worth ten minutes of your attention, and none of them ask you to do anything today.
1. The Fed left short-term rates alone
On Wednesday the Federal Reserve kept its benchmark overnight rate in a range of 3.75% to 4%, and two of the twelve voting members dissented because they wanted a quarter-point increase instead. The statement said inflation "remains elevated" and that the committee wants an "accumulation of more information" before moving again. That short rate is the one that sets what your savings and money market cash pays and what new borrowing costs, so no change means the math on your cash is unchanged for now.
2. Stocks sit near records, but the AI names wobbled
The S&P 500 ended the week of Friday, October 23 at 7,623.68, roughly 2.5% below its record close of 7,818.93 set on October 6. Underneath that, chipmakers put together their longest losing streak since 2008 on worries about AI spending and how it is being financed, while a version of the index that strips out AI stocks ran 6.4 points ahead of the full index this month. Worth knowing because a handful of very large companies now drive much of what "the market" does, and diversified and spread out are not always the same thing.
3. Fewer Fed meetings where rates get decided
Fed Chair Kevin Warsh said the central bank will still hold eight meetings a year, but beginning in 2027 one of them will be devoted entirely to long-run strategy rather than to setting rates. Small housekeeping change, practical side effect: one fewer day a year when the financial press insists something urgent is happening.
What this means for you
Money you need in the next few years and money you will not touch for a decade are doing two different jobs, and a week like this one makes that easy to see. The near-term money is still earning something while the Fed sits still, and the long-term money can absorb a rough stretch in chipmakers without anyone rewriting a plan over it. The other half of the picture is taxes, which no headline will tell you about: what comes out of your IRA this year, what that does to the taxable share of your Social Security, and which account you draw from first. That is the kind of thing we look at in a review, not something to react to on a Thursday.
If you want to talk to Dan, book a time here.
Sources: CNBC, Fed interest rate decision, Oct 28, 2026; Fox Business, October FOMC coverage, Oct 28, 2026; InvestingLive, full FOMC statement text, Oct 28, 2026; Seeking Alpha, S&P 500 weekly recap, Oct 26, 2026; BeInCrypto, S&P 500 ex-AI October review, Oct 28, 2026.
This update is educational and is not investment, tax, or legal advice. Investment advisory services offered through Bridgeriver Advisors LLC, a registered investment adviser. Past performance does not guarantee future results.
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