The Fed won’t raise interest rates again when it meets this week, and it shouldn’t. The economy is threatened by a growing list of risks, and a Fed misstep is one of them. That’s the clear message in our risk matrix, which sizes up each risk by how likely it is to occur over the next 12 to 18 months and how much economic damage it would cause if it did. There’s a lot of red in the matrix, indicating risks that are becoming more likely or more severe.

.@CFTC Secures Court Order Directing Louisiana Man and His Companies to Pay Over $9 Million in Forex Fraud: cftc.gov/PressRoom/PressRele…

Nearly two-thirds of builders said immigration enforcement is affecting their labor force, up from 23% in March and 13% a year ago, according to a September John Burns Research & Consulting survey. “We’re almost dead in the water because our workforce is gone,” said Scott Brannock, president of Jacksonville-based Tidewater Homes and the Northeast Florida Builders Association. “We have national builders who are missing projections, losing hundreds of thousands of dollars because they have slabs sitting on the ground and no one to frame.” wsj.com/us-news/the-immigrat…

NEW: 🇳🇴 Chinese-owned rental cars used by the Norwegian Armed Forces reportedly recorded soldiers, their movements and security codes during a major military exercise in Oslo, raising serious questions about the security of vehicles used in sensitive military operations. The incident occurred during Operation Hovedstad, held from September 14 to 18, when Norway’s Home Guard District 02 trained for security operations, including scenarios involving the defence of Oslo Airport during wartime. The Armed Forces had rented the cars through Hertz Norway under a nationwide rental agreement signed in 2024, worth up to 350 million Norwegian kroner and running until May 2028. Hertz Norway’s ownership chain ultimately leads to China’s Zhejiang Geely Holding Group, which also owns Volvo Cars. The agreement provides rental vehicles for exercises, operational activities and everyday military use. During the exercise, soldiers discovered that the cars had recorded and stored video footage. Lieutenant Fredrik Blanck told Norwegian newspaper Dagens Næringsliv (DN) that the recordings showed who entered and exited the vehicles, where they travelled, whom they picked up and how long they remained at different locations. More concerningly, the footage reportedly captured security codes entered by soldiers when opening military gates. Some access points require both a key card and a code, meaning the recordings could expose sensitive access procedures. The vehicles remained in use throughout the exercise because alternative transport was in limited supply.

What’s ahead for the economy and the industry? 📈 At the #CMAA2026 Lunch Plenary, futurist and economist Andrew Busch explored the 2026 economic outlook, from #AI and public policy to emerging opportunities for future growth. @abusch