The US Federal Reserve kept interest rates unchanged on Wednesday at its final meeting before next week's midterm elections, leaving its benchmark range at 3.75% to 4%, The Guardian reports.
Two policymakers wanted a quarter-point rise. Last month the Fed raised rates for the first time since 2023, a move that angered President Donald Trump, who has said rates should be 1% or lower.
Inflation rose from 3.4% in August to 3.7% in September, driven largely by higher energy costs linked to the war with Iran and the closure of the Strait of Hormuz. Several Fed officials have suggested there is room to pause, although many economists still expect one more increase before the end of the year. The cost of living is seen as a leading issue for voters in the elections, which will decide control of Congress.
Source: The Guardian
