Federal Reserve maintains October target range

The Federal Reserve published its Federal Open Market Committee statement on 28 October 2026. By a ten-to-two vote, the committee maintained the federal funds target range at 3.75% to 4.00%. The statement also said the central bank was continuing its approach of maintaining ample reserves in the banking system.

The committee described economic activity as expanding strongly, with resilient domestic spending, strong productivity growth and robust capital investment. It said job gains had broadly matched growth in the workforce and that the unemployment rate had moved little. At the same time, inflation remained elevated and uncertainty included geopolitical developments.

The statement linked future policy assessment to additional information and the objective of returning inflation to 2%. Lisa D. Cook and Beth M. Hammack dissented because they preferred a quarter-point increase at this meeting. This article records the announced decision and voting positions; it does not project the outcome of a later meeting.

Source: Federal Reserve statement, published 28 October 2026; verified 9 November 2026.