Fed holds rates at 3.75-4% amid inflation concerns, two governors dissent

Briefing by News4U · First published 2026-10-29 15:56:48 UTC

The US Federal Reserve voted 10-2 on Wednesday to hold its benchmark interest rate at 3.75%-4%, with Governors Lisa Cook and Beth Hammack dissenting in favor of a quarter-point hike. Chair Kevin Warsh said inflation remains above the 2% target and the bank will wait for more data before the December 8-9 meeting. Traders now price in a roughly 78-80% chance of a December rate increase. The decision came after the Fed raised rates in September and amid political pressure from President Donald Trump for lower borrowing costs. [1] [2] [3] [4]

Sources

1. BREAKING NEWS: U.S. Fed holds key interest rate steady after Sept. hike

   Kyodo News Business · 2026-10-28 18:02:00 UTC · Summary only

2. US makes interest rate decision - as Bank of England verdict looms

   Sky News Business · 2026-10-28 23:51:00 UTC · Summary only

3. Fed’s hawkish rate hold keeps pressure on Bitcoin: Analysts

   Cointelegraph · 2026-10-29 01:12:01 UTC · Full text

4. Fed leaves rates unchanged as it awaits more information

   RTÉ Business · 2026-10-29 07:24:23 UTC · Full text

Link to this briefing · Back to news