US Federal Reserve leaves interest rates unchanged after September hike

The US Federal Reserve left its interest rate unchanged at 3.75-4 per cent. The US Federal Reserve has decided to leave its main interest rate where it is. As per ANI, the rate stays at 3.75-4 per cent. The decision was announced on Wednesday, October 28, in Washington DC. Officials looked at two things: prices are still rising fast, but people are still spending and the economy is strong.The US Federal Reserve kept its interest rate unchanged at 3.75-4 per cent on Wednesday. (AFP)Fed holds rates, but two members wanted a hikeAccording to ANI, the Federal Open Market Committee (FOMC) voted 10-2 to keep the rate unchanged. Two members wanted to raise it by 25 basis points. This shows that the members did not fully agree on how to deal with rising prices. Also read: Fed rate decision: Kevin Warsh faces pressure to explain pause as US inflation risesDeep Dive“The Committee decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve’s dual mandate,” the FOMC said in its statement.The Fed had raised rates by 25 basis points in September. That took the range to 3.75-4 per cent. According ANI, it was the first increase since 2023. With this latest decision, borrowing costs stay at the same level. The central bank is now checking whether prices are moving towards its 2 per cent target.(This story is being updated)Khushi Arora is a Content Producer at Hindustan Times, where she writes for the US Desk, covering everything happening in the United States, while maintaining quality and delivering impactful stories across all beats. She previously worked at Zee News for over a year where she explored multiple beats including News Desk, Education and Lifestyle. With a background in English Literature, Khushi blends sharp research with thoughtful storytelling, shaping stories that go beyond headlines and bring clarity and credibility to every piece she writes. Beyond the newsroom, she enjoys reading, watching cinema and loves having long conversations about books, films and everything in between.Read More