File photo: Federal Reserve Eccles Building, photographed in 2011. Credit: Board of Governors of the Federal Reserve System / Wikimedia Commons. Public domain.
The Federal Reserve begins a two-day policy meeting Tuesday, with its next interest-rate decision scheduled for Wednesday afternoon as officials assess inflation and a slower month of hiring.
The Federal Open Market Committee meets October 27-28, according to the Fed’s official calendar. The decision is scheduled for 2 p.m. Eastern Time Wednesday, October 28, followed by Chair Kevin Warsh’s press conference at 2:30 p.m. No October rate decision has been announced.
Where interest rates stand
At its September 16 meeting, the committee voted 12-0 to raise the federal funds target range by a quarter percentage point to 3.75%-4%. The September statement said inflation remained elevated and described the increase as supporting a timelier return to the Fed’s 2% inflation goal.
That leaves officials deciding whether to change the benchmark rate again or leave it unchanged. The published calendar and prior statement do not establish what the committee will decide this week.
Hiring slowed in September
The Bureau of Labor Statistics’ September employment report, released October 2, showed nonfarm payrolls increased by 29,000 and unemployment was 4.2%. The agency described both measures as little changed and said employment in all major industries changed little during the month.
The jobs figures provide a different snapshot from the September Fed statement, which said job gains had kept pace with the workforce while domestic spending remained resilient. The Fed’s policy mandate includes maximum employment as well as stable prices.
What to watch Wednesday
The rate announcement will show whether policymakers hold the current range or make another change. The accompanying statement and Warsh’s answers will provide the committee’s latest assessment of inflation, employment and the economy.
This meeting is not marked for a new Summary of Economic Projections on the Fed’s calendar. The next regularly scheduled meeting associated with those projections is December 8-9.
Warsh became Fed chair on May 22, 2026, and also chairs the FOMC. His current four-year term as Board chair runs through May 21, 2030.
JBizNews Desk | Washington
© JBizNews.com. All rights reserved. Unauthorized reproduction or redistribution is strictly prohibited.
.jpg){kind=link}