Federal Reserve maintains interest rates at benchmark range following vote

The Federal Reserve decided to leave interest rates unchanged on October 28, 2026. Federal Reserve News, BNN Bloomberg, and CBS News reported that the Federal Open Market Committee voted to maintain the target range for the federal funds rate at 3-3/4 to 4 percent. [1][2][7]

The Federal Reserve News reported that the decision passed by a 10 to 2 vote. The central bank stated that economic activity is expanding at a strong pace, domestic spending remains resilient, and capital investment is robust. [1]

According to Federal Reserve News, inflation remains elevated even as job gains have kept pace with the workforce and unemployment has changed little. The central bank noted that it is maintaining its policy of keeping ample reserves in the banking system while geopolitical developments contribute to elevated uncertainty. [1]

The Federal Open Market Committee controls the supply of credit to banks and the sale of treasury securities. The Tribune-Democrat reported that officials gave little signal regarding their next interest rate move. [3][13]