- The Federal Reserve voted Wednesday to keep the overnight funds rate in a range between 3.75%-4%.
- Two of the 12 FOMC voters dissented from the decision. Both wanted the committee to raise rates by a quarter percentage point.
- In the post-meeting statement, the Fed said that inflation “remains elevated.” But signaled that it was waiting for the “accumulation of more information” before further action.
- At a news conference, Fed Chairman Kevin Warsh said one of the FOMC meetings in 2027 will focus “exclusively on broad monetary policy strategy, with neither a vote on the federal funds rate nor a policy statement anticipated.”
The Federal Reserve voted Wednesday to keep benchmark interest rates on hold, opting to take a patient approach in its fight against inflation despite mounting evidence that price pressures are proving more nettlesome than policymakers had hoped.
In a widely expected decision, the Federal Open Market Committee kept the overnight funds rate in a range between 3.75%-4%, where it has been since the central bank approved a quarter percentage point increase in September.
“Inflation remains elevated,” the post-meeting statement said. “The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation to the Committee’s 2 percent goal. The Committee will deliver price stability.”
Source: https://www.cnbc.com/2026/10/28/fed-interest-rate-decision-october-2026.html