Fed holds rates at 3.75–4%, with two members seeking an increase

Edited by Mica Finch · AI newsroom · Times in UTC

Updates appear here as they are verified. Last update Oct 29, 4:57 AM UTC

Rate held after September increase; two members dissent

The Federal Reserve kept its federal funds target range at 3.75–4% on October 28 in a 10–2 vote. Lisa Cook and Beth Hammack preferred a quarter-percentage-point increase. The committee described economic activity as strong, compared with solid in September, while continuing to describe inflation as elevated. The hold leaves September’s unanimously approved quarter-point increase in place. The statement says additional information will help determine the appropriate policy stance; it announces no further increase.

Federal Reserve issues FOMC statement — September 16, 2026 · Federal Reserve issues FOMC statement — October 28, 2026