Fed holds interest rates steady at last meeting before midterms

Summary

The US Federal Reserve left interest rates unchanged on Wednesday at its last board meeting before the midterm elections, keeping them at one of the highest pre-election levels in over 20 years. Two of the 12 board members voted against the pause, preferring to raise rates by a quarter point, the Fed said in a statement. Fed chair Kevin Warsh said politics played no role in the pause, even though inflation remains above 3%.

Timeline

1. CNA

   28 Oct 2026, 16:23 UTCSource ↗

   CNA reports the US Federal Reserve is expected to hold rates steady ahead of key midterm elections.

2. The Guardian

   28 Oct 2026, 19:26 UTCSource ↗

   The Guardian reports the Fed left rates unchanged on Wednesday at its last board meeting before the midterms, with two of 12 board members voting for a quarter-point rate rise instead.