Federal reserve holds interest rates steady despite high inflation

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Federal reserve holds interest rates steady despite high inflation. (2026, October 28). CBS News. https://www.cbsnews.com/video/federal-reserve-holds-interest-rates-steady-despite-high-inflation/

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Quick Summary

On Wednesday, the Federal Reserve decided to maintain current interest rates without change, even as inflation remains high. This decision follows a rate increase implemented in September aimed at curbing inflationary pressures. CBS News correspondent Kelly O'Grady provides analysis of this policy move.

Written by AI on 2026-10-29, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

On October 28, 2026, the Federal Reserve decided to keep interest rates unchanged at a range of 3.75%-4.00%, despite persistently high inflation driven by the war in Iran and rising energy prices. In a 10-2 vote, Fed Chair Kevin Warsh indicated that additional rate hikes may still be necessary but will require more data to confirm. The move comes days before the midterm elections, where economic issues like cost of living have been major concerns for voters. President Donald Trump had criticized previous rate increases and again urged lower interest rates earlier this month.

Written for “Fed Holds Rates Steady Before Midterms” on 2026-10-29, grounded in this article and the 16 other(s) covering the same event.

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📰 Fed Holds Rates Steady Before Midterms

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