Fed holds interest rates steady in last decision before midterms

The Guardian Business · 10/28/2026, 7:26:41 PM

Fed chair Kevin Warsh said politics played no role in pause of interest rate hikes, despite inflation remaining above 3% 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. 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. Continue reading...