Economy · Washington, United States · United States of America · October 29, 2026

US economy grows 3.4% as Fed holds rates

Reported by 3 outlets · first reported Oct 29, 2:18 AM ET

US GDP grew 3.4% in Q3. The Fed held at 3.75-4.00% in a 10-2 vote. September inflation accelerated.

Why it matters

Mortgage and loan costs stay high.

Background

Inflation has risen since the Iran war.

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 29, 2:06 PM ET
• The Hindu ↗Oct 29, 2:18 AM ET

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

See it on the globe →All of Oct 29's stories