{"id":73894,"date":"2026-10-30T14:08:18","date_gmt":"2026-10-30T18:08:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/fed-official-signals-further-hikes-copper-forecasts-surge-amid-supply-gaps\/73894\/"},"modified":"2026-10-30T14:08:18","modified_gmt":"2026-10-30T18:08:18","slug":"fed-official-signals-further-hikes-copper-forecasts-surge-amid-supply-gaps","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/fed-official-signals-further-hikes-copper-forecasts-surge-amid-supply-gaps\/73894\/","title":{"rendered":"Fed Official Signals Further Hikes; Copper Forecasts Surge Amid Supply Gaps"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Dallas Fed President Lorie Logan<\/strong> called for at least <strong>two more 25-basis-point rate hikes<\/strong>, signaling that current policy is not yet &quot;modestly restrictive&quot; enough to curb inflation.<\/li>\n<li><strong>Cochilco<\/strong> significantly raised its average copper price forecast to <strong>$6.18\/lb for 2026<\/strong> and <strong>$5.95\/lb for 2027<\/strong>, citing persistent global supply constraints and surging demand from the energy transition.<\/li>\n<li><strong>The NY Fed GDP Nowcast<\/strong> for Q4 2026 edged higher to <strong>2.90%<\/strong>, while the <strong>Atlanta Fed\u2019s GDPNow<\/strong> estimate remains robust at <strong>3.2%<\/strong>, reflecting resilient U.S. economic momentum.<\/li>\n<li><strong>Ford Motor Co. (<a href=\"\/stock\/F\">F<\/a>)<\/strong> is reportedly targeting an <strong>all-electric pickup truck by 2030<\/strong>, despite recent internal deliberations regarding the future of current EV models like the F-150 Lightning.<\/li>\n<li><strong>Big Tech earnings<\/strong> dominate next week&#39;s calendar, with Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) and Palantir (<a href=\"\/stock\/PLTR\">PLTR<\/a>) reporting Monday, followed by <a href=\"https:\/\/stockmarketwatch.com\/stock\/AMD\" data-internallinksmanager029f6b8e52c=\"16\" title=\"stock: AMD\">AMD<\/a> (<a href=\"\/stock\/AMD\">AMD<\/a>) on Tuesday.<\/li>\n<\/ul>\n<h2>Fed Hawkishness and Economic Resilience<\/h2>\n<p>Dallas Fed President <strong>Lorie Logan<\/strong> delivered a notably hawkish message on Friday, stating that the <strong>Federal Open Market Committee (FOMC)<\/strong> needs to implement at least <strong>two more 25-basis-point rate increases<\/strong>. Despite the Fed skipping a rate hike at its most recent meeting, Logan emphasized that &quot;skipping a meeting does not change the monetary policy destination.&quot; She noted that the end goal remains making policy <strong>modestly restrictive<\/strong> to ensure a sustainable return to the 2% inflation target.<\/p>\n<p>Concurrently, the <strong>New York Fed<\/strong> raised its <strong>Q4 GDP Nowcast to 2.90%<\/strong>, up from a previous estimate of 2.81%. This upward revision aligns with the <strong>Atlanta Fed&#39;s<\/strong> even more optimistic <strong>3.2%<\/strong> growth estimate for the final quarter of 2026. These figures suggest that the U.S. economy continues to expand at a solid pace, potentially providing the Federal Reserve with more &quot;room to run&quot; regarding its tightening cycle.<\/p>\n<h2>Commodities: Copper Prices Set for New Highs<\/h2>\n<p>The Chilean copper commission, <strong>Cochilco<\/strong>, has aggressively updated its outlook for the &quot;red metal.&quot; The agency now forecasts an average copper price of <strong>$6.18\/lb for 2026<\/strong> and <strong>$5.95\/lb for 2027<\/strong>. This represents a sharp increase from earlier estimates and reflects a market characterized by <strong>volatile supply<\/strong> and persistent operational disruptions at major mines in Chile and the DRC.<\/p>\n<p>Mining Minister <strong>Daniel Mas<\/strong> highlighted that the demand side remains bolstered by the <strong>global energy transition<\/strong>, electric vehicles, and the rapid expansion of <strong>AI data centers<\/strong>. While global refined copper demand is expected to rise by <strong>1.5% in 2026<\/strong>, supply remains tight, with Chile&#39;s own production forecast to fall by <strong>2.0%<\/strong> in 2026 before a projected recovery in 2027.<\/p>\n<h2>Corporate and Geopolitical Developments<\/h2>\n<p>In the automotive sector, <strong>Ford Motor Co. (<a href=\"\/stock\/F\">F<\/a>)<\/strong> is reportedly recalibrating its long-term strategy, now targeting an <strong>all-electric pickup truck lineup by 2030<\/strong>. This comes amid reports from the <em>Wall Street Journal<\/em> suggesting the company has faced challenges with the current <strong>F-150 Lightning<\/strong> model, including high production costs and shifting regulatory incentives.<\/p>\n<p>On the geopolitical front, <strong>Pakistan&#39;s military<\/strong> expressed &quot;cautious optimism&quot; regarding its role as a mediator between <strong>Iran and the United States<\/strong>. Military spokesperson <strong>Lieutenant General Ahmed Sharif Chaudhry<\/strong> warned of &quot;powerful spoilers&quot; that could derail de-escalation efforts, even as high-level delegations continue meetings in Tehran. Meanwhile, Russian Foreign Minister <strong>Sergey Lavrov<\/strong> met with his Japanese counterpart on the sidelines of the <strong>G20 ministerial meeting<\/strong> in Atlanta, marking a rare high-level diplomatic encounter amid ongoing global tensions.<\/p>\n<h2>Looking Ahead: Earnings Week<\/h2>\n<p>Investors are bracing for a high-stakes earnings week starting <strong>November 2<\/strong>. Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) and Palantir (<a href=\"\/stock\/PLTR\">PLTR<\/a>) are scheduled to report after the close on Monday. Tuesday&#39;s spotlight will be on <a href=\"https:\/\/stockmarketwatch.com\/stock\/AMD\" data-internallinksmanager029f6b8e52c=\"16\" title=\"stock: AMD\">AMD<\/a> (<a href=\"\/stock\/AMD\">AMD<\/a>), with analysts expecting revenue of <strong>$13.08 billion<\/strong> driven by surging demand for AI accelerators. Other major reports expected later in the week include <strong>McDonald\u2019s (<a href=\"\/stock\/MCD\">MCD<\/a>)<\/strong>, <strong>Uber (<a href=\"\/stock\/UBER\">UBER<\/a>)<\/strong>, and <strong>Sony (<a href=\"\/stock\/SONY\">SONY<\/a>)<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Dallas Fed President Lorie Logan called for at least two more 25-basis-point rate hikes, signaling that current policy 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