# Fed seen holding rates despite hot inflation, with Dec. hike in focus — retained record

> Retained news record from news:ml-bay-area-times.

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source: [news](https://highsignal.app/data/news) (news:ml-bay-area-times)  published 2026-10-28 10:27 ingested 2026-10-29 03:05

[original source ↗](https://www.bayareatimes.com/p/fed-seen-holding-rates-despite-hot-inflation-with-dec-hike-in-focus)

## retained text



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Wednesday 28 October 2026
Top stories today:
- Fed seen holding rates despite hot inflation, with Dec. hike in focus
- Anthropic reports early drug development gains with 6 partners
- SK Hynix +11% as Q3 revenue +328% YoY, operating profit +632%
- Google DeepMind’s Genie 4 debuts for interactive AI simulations
- Physical Intelligence seeks $1B+ at ~$20B valuation
0. Data & Calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations)
1. Fed seen holding rates despite hot inflation, with Dec. hike in focus
- Markets expect the Fed to hold rates at 3.75%-4.00%, though Fed Chair Warsh could face pressure to explain the decision.
- Sep.: policymakers unanimously voted to raise rates to curb rising inflation.
- 2 PM ET: FOMC rate decision.
- 2:30 PM ET: Warsh speaks at a post-meeting press conference.
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3. Anthropic reports early drug development gains with 6 partners, acquires Mithril
- One-person startup Mithril for two rare forms of muscular dystrophy.
- Generate Biomedicines used Claude Code to redesign CAR T-cell therapies for cancer treatment.
- Claude helped Divergence Labs generate ~35K antibody designs in a month for food allergy research.
- Enveda used Claude to review 1,061 manufacturing pages, cutting review time by 89% and flagging 7 missed issues.
Separately, Anthropic’s S-1 has implied a $40T+ annual TAM, topping SpaceX’s $28.5T estimate
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5. SK Hynix +11% as Q3 revenue +328% YoY, operating profit +632%, both beat estimates
- ₩104.6T (~$78.4B) in Q3 revenue, vs. ₩98.34T (~$73.7B) estimated.
- SK Hynix plans ~$75B in 2026 shareholder returns, including $22B+ in dividends and $45B+ in buybacks.
- Memory shortages will persist through 2030, SK Hynix predicted.
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7. Google DeepMind’s Genie 4 debuts for interactive AI simulations
- Powered by Gemini 3.8 Flash, Genie 4 can generate interactive experiences lasting ~2 minutes, vs. 1 minute for Genie 3.
- Limited to trusted testers initially.
- The model is pitched as a tool for film previsualization, game prototyping, and creating robot training scenarios.
- Genie 4 is coming soon to Google AI Ultra subscribers, with a waitlist open for access through Project Genie.
```



document fetched 2026-10-29 03:05 · canonical https://bayareatimes.com/p/fed-seen-holding-rates-despite-hot-inflation-with-dec-hike-in-focus