Federal Reserve keeps interest rates unchanged in final vote before midterms

On October 29, 2026, the US Federal Reserve decided to keep interest rates steady at 3.75% - 4%, despite ongoing inflation concerns and a looming midterm election. This decision was widely anticipated as the Fed aims to gather more economic data before making further adjustments. The move reflects the central bank's cautious approach amid conflicting signals from various sectors of the economy, including soaring bond yields and a booming stock market. President Donald Trump had previously criticized the Fed for raising interest rates too quickly, even urging them to lower rates immediately in social media posts. The decision was made just days before the midterm elections, where inflation is a significant issue for voters, who largely blame high prices on Trump's policies related to the Iran war and tariffs.