Fed holds interest rates steady in last decision before midterms
The Federal Reserve opted to leave its benchmark interest rate unchanged — but investors widely expect the central bank to raise rates at its next meeting in December to combat stubborn inflation.
Key points
- stocks held relatively steady after the Federal Reserve decided not to raise its main interest rate to bring down high inflation.
- Two of the 12 Federal Open Market Committee voters dissented from the decision.
Two out of 12 board members voted against the pause, preferring to raise rates by a quarter point this meeting, the Fed board said in a statement.
Rates will remain 3.75-4 percent even as inflation continues to rise.
Additional details
- Fed chair Kevin Warsh said politics played no role in pause of interest rate hikes, despite inflation remaining above 3% The US Federal Reserve left interest rates unchanged on Wednesday during its last board meeting before the midterm elections, keeping rates at one of the highest pre-election levels seen in over 20 years.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
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Every article behind this summary — 5 articles from 5 outlets
CNBCOctober 28, 2026, 7:43 PM UTC →
The Guardian BusinessOctober 28, 2026, 7:26 PM UTC →
Al JazeeraOctober 28, 2026, 7:05 PM UTC →
NPR NewsOctober 28, 2026, 6:04 PM UTC →
Global News MoneyOctober 28, 2026, 12:57 PM UTC →
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