Federal Reserve holds rates steady despite concerns over inflation
- 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.
356 Articles
356 Articles
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
Federal Reserve holds interest rates steady as midterm elections loom
Federal Reserve Chair Kevin Warsh delivers remarks during a news conference following the Federal Open Market Committee meetings at Federal Reserve Headquarters on Oct. 28, 2026, in Washington, D.C. The Federal Reserve will leave interest rates unchanged even as inflation remains elevated. (Photo by Alex Wong/Getty Images) The Federal Reserve held interest rates steady on Wednesday as the economy faces a monthslong surge of inflation ahead of th…
The decision that kept the rates between 3.75% and 4% was rejected by two monetary policy makers out of a total of 12. Gov. Lisa Cook and Cleveland Fed President Beth Hammack wanted a quarter-point raise. Central Bank's Monetary Policy Committee (FOMC) argued that it needs more data, after having raised rates for the first time in three years at its previous meeting, in September. "The accumulation of more information will help the committee det…
UAE Central Bank holds base rate at 3.9% after US Federal Reserve keeps rates unchanged
Abu Dhabi: The Central Bank of the United Arab Emirates has decided to maintain the base rate on overnight deposit facilities at 3.9%.This decision comes after the Federal Reserve announced that it would keep the interest rate on reserve balances unchanged at its meeting held today.The Central Bank also decided to maintain the rate applicable to short-term liquidity borrowing from the Central Bank through all existing credit facilities at 50 bas…
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