The Federal Reserve wraps up its two-day meeting on Wednesday, October 28, and releases its policy statement at 2 p.m. Eastern. Chair Kevin Warsh’s press conference follows at 2:30 p.m. Our Fed live updates below follow the decision and the press conference as they come out, newest first.
Where rates stand going in
The federal funds target range is 3.75% to 4.00%. The Fed raised it by a quarter point on September 16, on a 12-0 vote, according to the Fed’s September statement. The minutes of that meeting say most officials expected another increase would likely be appropriate by year end.
Forecasters widely expect a hold this week and a hike in December, as we laid out in our Fed meeting preview. There are no new economic projections at this meeting, so the statement’s wording and any dissents are what to watch.
What to watch
- The decision itself: hold at 3.75% to 4.00%, or a move.
- The vote: how many officials dissent, and in which direction.
- The statement’s first paragraph, and whether it changes how the Fed describes inflation.
- What Warsh says about December at the press conference.
For what a Fed decision does and does not change for your savings, card balance and mortgage quote, see our Fed rate decision explainer. The Fed’s meeting calendar lists the next meeting on December 8 and 9. This is general information, not financial advice.
