Economy

Fed Holds Rates at 3.75% to 4% and Trims Future Calendar

Chairman Kevin Warsh kept borrowing benchmarks unchanged while announcing a move to seven policy meetings in 2027 and six in 2028.

Tofig Aghayev
Published · Updated ·
Scaffolding stands against the Federal Reserve building beneath an eagle sculpture.
abcnews.com

· Federal Reserve Chairman Kevin Warsh announced plans to reduce the central bank's policy schedule to seven meetings in 2027 and six in 2028.

· The Federal Reserve left its benchmark rate unchanged at 3.75% to 4% on October 28, 2026, holding borrowing costs steady after raising them by a quarter point in September.

Conflicting economic signals emerged ahead of the latest rate announcement. U.S. hiring slowed to 29,000 positions in September 2026 after expanding by 162,000 jobs in August, according to the Bureau of Labor Statistics. At the same time, consumer prices climbed 3.7% year-over-year in September, fueled by gasoline holding above $4 per gallon across three consecutive months.

Calendar Reductions Ahead

Chairman Kevin Warsh noted that the schedule adjustment compares to eight meetings this year, down from eight this year. Warsh emphasized that "domestic spending has been resilient" despite geopolitical uncertainty, while the committee evaluates fresh data before its next scheduled meeting on December 8-9, 2026.

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Tofig Aghayev
ByTofig Aghayev
Founder & Editor-in-Chief
Tofig Aghayev has been working professionally in the media and film industry since 1997. He has worked as a producer, TV reporter, and camera operator at Buta Film, Azerbaijan Television (AzTV), and Miraz TV. From 1997 to 2006, he served as a producer at Buta Film, contributing to various film and television projects. In 2006, he joined AzTV as a TV reporter and camera operator, where he worked for 17 years. Since 2023, he has been working as a TV reporter at Miraz TV. He is the founder and Editor-in-Chief of Miraz tv LLC, incorporated in California on July 8, 2025.