Fed holds interest rates steady in last decision before midterms
Briefing by News4U · First published
The US Federal Reserve left interest rates unchanged Wednesday in its last meeting before the midterms, as Two out of 12 board members preferred a quarter point hike after last month’s first increase since 2023, The Guardian reported.
The US Federal Reserve left interest rates unchanged on Wednesday during its last board meeting before the midterm elections, keeping rates at one of the highest pre-election levels seen in over 20 years, The Guardian reported. [1]
Two out of 12 board members voted against the pause, preferring to raise rates by a quarter point this meeting, the Fed board said in a statement, according to The Guardian. Last month, Fed officials raised rates for the first time since 2023. [1]
Though inflation rose higher in September, going from 3.4% in August to 3.7%, the pause signals a wait-and-see approach ahead of the midterms next week, The Guardian said. [1]
Sources
- Fed holds interest rates steady in last decision before midterms
The Guardian · · Full text