Economy · Washington, United States · United States of America · October 28, 2026

Fed holds rates at 3.75-4% as inflation runs high

Reported by 7 outlets · first reported Oct 28, 3:43 PM ET

The Fed voted 10-2 to hold rates. Two members wanted a quarter-point rise. Chair Warsh called inflation too high. Treasury Secretary Bessent said another hike would not necessarily be a mistake.

Why it matters

Higher borrowing costs may last, affecting mortgages and business loans.

Background

The Fed is the US central bank.

The story so far

1. Oct 20US housing data weakens as Fed weighs further rate hikes
2. Oct 27Fed expected to hold rates
3. Oct 28Fed holds rates at 3.75-4% as inflation runs high
4. Oct 29US economy grows 3.4% as Fed holds rates
5. Nov 6US adds 165,000 jobs in October; unemployment falls to 4.1%
6. Nov 7US adds 165,000 jobs in October

Follow the whole story →

Sources

• CNBC ↗Oct 28, 3:43 PM ET
• Yonhap ↗Oct 28, 6:01 PM ET
• Japan Times ↗Oct 28, 7:03 PM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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