Federal Reserve officials were set to decide Wednesday whether to raise interest rates again, with reports indicating the central bank was expected to keep rates unchanged after an increase last month.
The New York Times said last month’s increase was the first since 2023. The Hill reported that annual inflation, measured by the consumer price index, was 3.7 percent in September, up from 3.4 percent in August. The decision comes as inflation remains elevated ahead of the midterm elections.