The facts

  1. The Federal Open Market Committee announced the decision at 14:00 Eastern Daylight Time, or 18:00 UTC. The vote was 10–2. [1]

  2. Lisa D. Cook and Beth M. Hammack dissented because they wanted to raise the target range by 0.25 percentage points. [1]

  3. The committee described economic activity as expanding at a solid pace and inflation as elevated. It retained its longer-term 2% inflation objective. [1]

  4. The hold follows September’s quarter-point increase, AP reported. The committee did not announce its next rate decision. [1][2]

Sources

References support the numbered facts above. Source checks: 29 Oct 2026, 00:15 UTC.

  1. 28 October FOMC statement

    Federal Reserve · Primary source · 28 Oct 2026

  2. Federal Reserve keeps rates unchanged despite elevated inflation

    The Associated Press · Reporting · 28 Oct 2026

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