Fed Holds Rates at 3.75-4% With Two Dissents Favouring a Hike

The US Federal Reserve held its policy rate at 3.75-4% at the October meeting that ended on October 28, 2026 (6 Aban 1405), Ecoiran reported. The Federal Open Market Committee voted 10 to 2; board member Lisa Cook and Cleveland Fed President Beth Hammack dissented, both seeking a 0.25-point increase.

Fed Chair Kevin Warsh declined to give explicit guidance on the next decision at his press conference but stressed the need to contain inflation and the economy's resilience, citing an upward revision of first-half growth to 2.4% and an estimated growth rate above 3% in the third quarter. Ecoiran, citing Bloomberg, said the two-year Treasury yield fell 4 basis points to 4.7%, and Fed funds futures put the chance of a December hike at about 80%, down from nearly 90% earlier. US interest rates reach Tehran's gold and coin market through the dollar and the global gold price.