The Federal Open Market Committee of the Federal Reserve has decided to maintain the federal funds rate target range at 3.75% to 4% following a 10-2 vote. The Committee highlighted strong economic growth and stable job gains, but noted that inflation remains elevated. Two members, Lisa D. Cook and Beth M. Hammack, opposed the decision, advocating for a rate increase. This statement was released on October 28, 2026.
Key facts
- Federal funds rate target range maintained at 3.75% to 4%
- FOMC voted 10 to 2 on the decision
- Economic activity is expanding strongly
- Inflation remains elevated above the target
- Statement issued on October 28, 2026
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