The Federal Reserve's next interest rate decision is one week away, and the record of its last meeting shows where most officials were leaning. According to the minutes of the September meeting, released on October 7, most participants assessed that another increase in the target range for the federal funds rate would likely be appropriate by year end. For households carrying credit card balances, auto loans or adjustable-rate mortgages, the third-quarter reports now arriving from consumer lenders offer an early read on how borrowers are holding up. Active Companies from around the markets with current developments this week include: Capital One Financial Corporation (NYSE: COF), Synchrony Financial (NYSE: SYF), Ally Financial Inc. (NYSE: ALLY), JPMorgan Chase & Co. (NYSE: JPM).

At that September meeting, the Fed raised its target range by a quarter percentage point to 3.75% to 4% in a 12-0 vote, stating that inflation remains elevated. The minutes also noted that participants emphasized they approached each meeting with an open mind and that decisions at future meetings would depend on incoming information. Since then, the U.S. Bureau of Labor Statistics reported on October 14 that consumer prices rose 3.7% over the 12 months ending in September, up from 3.4% in August, with the index excluding food and energy up 2.6%. The Fed's next meeting is scheduled for October 27 and 28.

Household balance sheets are carrying more revolving debt into that decision. The Federal Reserve Bank of New York reported in August that credit card balances rose by $21 billion in the second quarter to $1.26 trillion, with 4.7% of all outstanding household debt in some stage of delinquency, and its next quarterly report is scheduled for November 10. On the mortgage side, industry data published on October 5 counted 3.1 million active first-lien adjustable-rate mortgages, the most in five and a half years, though they represent just 5.6% of active mortgages.

Rate decisions can move an entire sector in one session, and lenders are often among the first to react. Market-Updates.com shows how to read the news and the charts side by side.

In other industry developments and happenings in the market this week include:

Capital One Financial Corporation (NYSE: COF)

Capital One reported on October 20 third-quarter net income of $3.5 billion, or $5.61 per diluted common share. Provision for credit losses decreased $73 million to $2.9 billion, reflecting net charge-offs of $3.1 billion and a $225 million loan reserve release, and the company's net charge-off rate was 2.73%, compared with 3.23% in the second quarter. In its total credit card business, the net charge-off rate was 4.01%, down from 4.71% in the second quarter and 4.61% a year earlier.

"The Discover integration continues to go well and we're making good progress on delivering the expected synergies," said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer of Capital One.

Synchrony Financial (NYSE: SYF)

Synchrony reported third-quarter net earnings of $892 million, or $2.68 per diluted share, compared to $1.1 billion, or $2.86 per diluted share, a year earlier. Purchase volume increased 8% to $49.7 billion and loan receivables increased 3% to $103.3 billion. Net charge-offs were 4.79% of total average loan receivables, compared to 5.16% a year earlier, while provision for credit losses increased 10% to $1.3 billion, primarily driven by a $30 million reserve build versus a $152 million release in the prior year.

"Synchrony delivered another strong performance in the third quarter, highlighted by broad-based purchase volume growth across all five of our sales platforms," said Brian Doubles, Synchrony's President and Chief Executive Officer.

Ally Financial Inc. (NYSE: ALLY)

Ally Financial reported on October 20 third-quarter GAAP EPS of $1.30, up 10% year over year, and adjusted EPS of $1.34, up 16%, on $12.9 billion of consumer auto originations, up 10%. The retail auto net charge-off rate of 1.89% increased 1 basis point year over year, and retail auto delinquencies 30 or more days past due rose 6 basis points to 4.96%. Provision for credit losses increased $114 million year over year to $529 million, which the company attributed primarily to CECL reserve builds associated with asset growth during the quarter.

"Third quarter results provide another clear signal that our focused strategy is delivering results," said Michael Rhodes, Chief Executive Officer of Ally Financial.

JPMorgan Chase & Co. (NYSE: JPM)

JPMorgan Chase reported on October 13 third-quarter results that included credit costs of $2.7 billion, with $2.2 billion of net charge-offs and a $539 million net reserve build. Its Card Services net charge-off rate was 2.91%, and average loans rose 10% year over year.

"The U.S. economy continued to be fueled by strong business investment and ongoing consumer spending. However, large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface," said Jamie Dimon, Chairman and CEO of JPMorgan Chase.

The Fed's October 28 decision could move rate-sensitive stocks quickly. Learn to read the setups behind moves like these with the free Stock Preachers guide, plus The Roadmap market reports, at market-updates.com/sp.