The Fed left rates unchanged: 3.75–4.00% (Oct 28, 2026)
On Oct 28, 2026 the Fed kept its band at 3.75–4.00%.
Put together automatically by hedger from FRED, ČNB, ČSÚ and Yahoo Finance data. It draws no conclusions and is not investment advice.
The top of the band last moved on Sep 17, 2026, from 3.75% to 4.00%.
The Fed aims for 2% and core PCE inflation is 3.1%, +1.10 pp from the target. The rate decides how hard to brake the economy: higher inflation argues for a higher rate, a weaker job market for a lower one.
The market reads it through short bills: the 3-month bill yields 4.18% against the effective rate of 3.88%, a gap of 30 bp. A negative gap means the market leans towards a cut, a positive one towards a rise.
The numbers before the decision
- The Fed funds band: 3.75–4.00%
- Core PCE inflation for September 2026: 3.1% (the Fed's target 2%)
- Unemployment for September 2026: 4.2%
The rate's history
| Month | Rate |
|---|---|
| October 2026 | 3.88% |
| September 2026 | 3.88% |
| August 2026 | 3.63% |
| July 2026 | 3.63% |
| June 2026 | 3.63% |
| May 2026 | 3.62% |
| April 2026 | 3.64% |
How markets moved on Oct 28, 2026
| Market | On the day |
|---|---|
| S&P 500 | +0.3% |
| Nasdaq 100 | +0.5% |
| US 10-year yield | +0.06 pp |
The next meeting
Dec 9, 2026.
Questions people ask
- What is the Fed's rate? A band of 3.75–4.00%.
- When is the next Fed meeting? Dec 9, 2026.
More on hedger
Rates and the Fed → · The Fed's rate over time → · Core PCE inflation →
Source: Federal Reserve · FRED