Fed holds at 3.75%–4.00%, with two votes for a hike
The FOMC kept the federal funds target range at 3.75% to 4.00% on 28 October, by a 10–2 vote. Lisa D. Cook and Beth M. Hammack wanted a quarter-point increase.
The Federal Open Market Committee left the target range for the federal funds rate at 3.75% to 4.00% on 28 October 2026. The statement says the action was approved by a 10–2 vote, and it names the two dissenters, Lisa D. Cook and Beth M. Hammack, who wanted a quarter-point increase instead (FOMC statement, 28 October 2026).
The decision in numbers
- Target range: 3.75% to 4.00%, unchanged
- Vote: 10 in favour, 2 against
- Dissenters: Lisa D. Cook and Beth M. Hammack, both for a 0.25-percentage-point increase
- Last change: a quarter-point increase on 16 September 2026, to 3.75%–4.00%
Reading it
Two dissents in favour of a hike show that the committee was not unanimous about the next move. The hold keeps the range where the September increase left it. The Federal Reserve's calendar marks the next meeting with new economic projections for 8–9 December 2026 (FOMC calendar).
For how a rate decision reaches the dollar, see what happens when the Fed hikes. For the September move, see the Fed's September hike. Live prices: EUR/USD.
Sources
Common questions
What did the Fed decide on 28 October 2026?
It kept the federal funds target range at 3.75% to 4.00%. The vote was 10–2.
Who dissented at the October 2026 meeting?
Lisa D. Cook and Beth M. Hammack, who wanted a quarter-point increase, according to the statement.
This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money. Read the risk warning. Spotted an error? Tell the editors.
Related reading
Comments
Log in to join the discussion. Comments follow the community guidelines.
Log in to commentLoading comments…