FOMC votes 10-2 to hold federal funds rate at 3.75%–4.00% on Oct. 28, 2026
On October 28, 2026 the Federal Open Market Committee voted 10–2 to maintain the target federal funds rate at 3.75%–4.00%. Chair Kevin Warsh held a press conference and said the committee will wait for the accumulation of more information; he also announced changes to the 2027–28 meeting schedule.
The desk brief
On October 28, 2026 the Federal Open Market Committee voted 10–2 to maintain the target federal funds rate at 3.75%–4.00%. Chair Kevin Warsh held a press conference and said the committee will wait for the accumulation of more information; he also announced changes to the 2027–28 meeting schedule.
A US hold at 3.75%–4.00% typically keeps US Treasury yields and global USD funding conditions centered on current levels; that can sustain upward pressure on yields in emerging-market USD curves if US real rates rise or risk premia widen. For South Africa (ZAF), a Fed hold versus hikes limits additional USD appreciation pressure on the rand (ZAR) relative to a scenario with further Fed tightening, but local yields could still move if global risk sentiment or commodity prices shift.
Next FOMC meeting on Dec. 8–9, 2026 (markets expect potential hike).
Sources & verification
Developing storyDeveloping story supported by 2 independent public publishers; further confirmation is being sought.
- Federal Reserve makes interest rate decision ahead of midtermsfoxbusiness.comSource published (opens in a new tab)
- Fed holds rates steady despite concerns over inflationcnbc.comSource published (opens in a new tab)
Public references supporting this brief.