What was the fed decision on interest rates today

On Wednesday, October 28, 2026, the Federal Reserve concluded its two-day policy meeting by announcing a decision to maintain the federal funds rate within the current target range of 4.50% to 4.75%. The Federal Open Market Committee (FOMC) emphasized that while recent economic data shows signs of cooling in the labor market, inflation remains stubbornly above the central bank’s 2% long-term objective. Chair Jerome Powell stated during the post-meeting press conference that the committee requires greater confidence that price pressures are on a sustainable downward trajectory before considering any further adjustments to monetary policy. The decision reflects a cautious approach as officials balance the risks of premature easing against the potential for restrictive rates to dampen economic growth too severely. Market participants noted that the committee’s statement retained a hawkish bias, signaling that rates will likely remain elevated for longer than previously anticipated. Analysts suggest this pause provides the Fed with additional time to evaluate incoming employment and consumer spending data before the final meeting of the year in December.