Fed Holds Rates at 3.75% to 4% as Two Officials Back a Hike

Riza Dagoc

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Fed Holds Rates at 3.75% to 4% as Two Officials Back a Hike

September’s core PCE index, which excludes food and energy, rose 3.1% year over year and 0.3% from August.

By Riza Dagoc

Published Oct 29, 2026, 5:09 PM EDT

Warm sunlight touches the steps of a stone government building / TokenPost.ai

The Federal Open Market Committee (FOMC) held the federal funds target range at 3.75% to 4% Wednesday, with two officials favoring a quarter-point increase in a 10-2 vote.

Lisa D. Cook and Beth M. Hammack dissented in favor of the increase. The other 10 voters supported keeping the range unchanged.

BTSE Chief Operating Officer Jeff Mei had expected the Fed to hold rates, as discussed in an earlier rate outlook.

The Bureau of Economic Analysis (BEA) released its September Personal Income and Outlays report at 8:30 a.m. ET (12:30 UTC) Thursday, Oct. 29. The personal consumption expenditures (PCE) price index rose 0.5% from August and 3.6% year over year.

Core PCE, which excludes food and energy, rose 0.3% month over month and 3.1% year over year.

Riza Dagoc

Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.