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Federal Reserve holds rates steady despite concerns over inflation
Officials said the 10-2 vote leaves borrowing costs unchanged while two policymakers dissented for a quarter-point increase.
- On Wednesday, October 28, 2026, the Federal Reserve held interest rates steady within the 3.75%-4.00% range in a 10-2 decision, delaying any changes until after the November 3 midterm elections.
- The central bank has missed its 2% goal for five and a half years, straining households and businesses with sustained price increases that policymakers sought more data to combat.
- Cleveland Fed President Beth Hammack and Fed Governor Lisa Cook dissented, calling for an immediate 0.25-percentage-point hike, while the committee upgraded its economic assessment to 'strong' from 'solid.'
- The decision comes six days before the November 3 midterm elections, where Democrats and Republicans vie for control of Congress amid inflation remaining a central campaign issue.
- President Donald Trump has challenged the Fed's independence during his second term, and the White House recently renewed efforts to remove Governor Cook despite a Supreme Court decision against an earlier attempt.
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The US central bank, the Federal Reserve, has kept interest rates steady within a range of 3.75% to 4%. Economic activity remains strong, but inflation remains high.
Decision takes place less than a week from the midterms elections, which will represent a fire test for the President of the United States. Donald Trump has insisted on a reduction in interest rates
·Paço de Arcos, Portugal
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The bond market swings, but US stocks remain steady after the Fed says it won't raise interest rates
The bond market is swinging Wednesday, while U.S. stocks hold relatively steady after the Federal Reserve decided not to raise its main interest rate to bring down high inflation.
·Columbia, United States
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Total News Sources375
Leaning Left46Leaning Right63Center99Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 22%
C 48%
R 30%
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