Bloomberg Surveillance · Wednesday, October 28, 2026
The FOMC decided to keep the federal funds rate target at 3.75% to 4% to support the dual mandate and ensure inflation returns to the 2% goal. Committee members noted that domestic spending is resilient and productivity growth is strong, but inflation remains elevated.
“The FOMC decided to maintain the target rate for the federal funds rate at 3.75% to 4% in support of the Federal Reserve's dual mandate.”
“Domestic spending has been resilient. Productivity growth is strong. In capital investment, robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little, but inflation remains elevated.”