@cspanofficial: The Federal Reserve voted Wednesday to leave interest rates unchanged in its final monetary policy decision before the midterm elections. The decision keeps the target range for the federal funds rate at 3.75%–4%, where it has stood since policymakers approved a quarter-point increase in September. Federal Reserve Chair Kevin Warsh said the U.S. labor market remained strong, but inflation was still too high, partly because of geopolitical developments, and had been a central focus of policymakers' discussions over the past two days. "On the employment side of the Fed's dual mandate, conditions are quite positive. And yet Americans, of course, are still dealing with inflation that has been running above the committee's objective for close to six years. It's our responsibility to get inflation down," he said at a press conference. Two of the 12 voting members of the Federal Open Market Committee dissented, with Governor Lisa Cook and Cleveland Fed President Beth Hammack favoring another quarter-point increase. Chair Warsh said September's 25-basis-point increase, the first rate hike since July 2023, was beginning to take hold in the economy, with financial conditions tightening, although he said he would not characterize overall conditions as broadly "tight." "We have started to see some changes in financial and credit conditions. They have tightened for some businesses and households, much as we would expect," he said. "Market participants are becoming somewhat more discerning in their capital allocations." #cspan #federalreserve #interest #economy #news

C-SPAN

Open In TikTok:

Region: US

Wednesday 28 October 2026 19:28:45 GMT