Federal Reserve holds target range at 3.75–4%

The US Federal Reserve kept its federal funds target range at 3.75–4% on 28 October. The decision passed by ten votes to two, according to the FOMC statement.

Lisa Cook and Beth Hammack preferred a 0.25-percentage-point increase. The committee said inflation remained elevated and reaffirmed its 2% objective.

The decision leaves the current range unchanged rather than reducing it. Two votes for tightening do not constitute a commitment to a subsequent increase; future decisions will depend on incoming information and the assessment of risks.

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