The United States Federal Reserve is due to announce its latest interest rate decision at 2 p.m. Eastern Time on Wednesday, 28 October 2026, followed by a press conference by Chair Kevin Warsh at 2:30 p.m., according to the Federal Reserve's meeting calendar as reported by several outlets.
According to reports of market pricing, the central bank is widely expected to leave its federal funds target range unchanged at 3.75% to 4.00%. That range was set on 16 September, when the committee raised rates by a quarter of a percentage point, its first increase since July 2023, according to reports of the September statement.
Inflation is a central part of the decision. According to reports citing Bureau of Labor Statistics data, consumer price inflation was 3.7% in the 12 months to September, up from 3.4% in each of the previous two months, with energy costs a major driver. Producer prices also rose sharply, according to market reports.
According to a Reuters poll reported by Crypto Daily, 94 of 100 economists expected the Fed to hold rates in October, while all 100 expected an increase in December. Market pricing cited by CNBC TV18 put the chance of a hold at about 90%.
What investors will watch most closely is Warsh's language. According to CNBC TV18, economists expect him to face questions about whether a pause can be justified after the September increase and three hotter-than-expected inflation reports, and about the path for December, when the next meeting is scheduled for 8-9 December.
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