Fed Announces Keeping Interest Rate Unchanged Xinhua News Agency, New York, October 28 (Reporters Liu Yanan and Xu Jing) The US Federal Reserve concluded its two-day monetary policy meeting on the 28th and announced that the target range for the federal funds rate will remain unchanged at 3.75% to 4%. This decision is in line with the market's broad expectations. The Federal Open Market Committee made this decision in a 10-2 vote, in which Fed Governor Lisa Cook and Cleveland Fed President Beth Hammock advocated continuing to raise interest rates by 25 basis points. The Fed said in a statement that inflation remains high and that gathering more information will help the committee set appropriate monetary policy to ensure that inflation returns to its 2 percent target. The statement said that while uncertainty, including the geopolitical situation, remains high, domestic spending remains resilient, with productivity growth and capital investment strong. New jobs kept pace with labor supply, and the unemployment rate changed very little. Federal Reserve Chairman Warsh said at a press conference on the afternoon of September 28 that since the September interest rate hike, financial and credit conditions for some companies and households have tightened, but overall financial conditions have not reached a strained level, which will help stabilize prices. He also said that no one mentioned the upcoming midterm congressional elections at this monetary policy meeting. Due to the recent increase in inflationary pressure, the Federal Reserve announced a 25 basis point interest rate hike on September 16, the first time the Fed has raised interest rates since late July 2023.

Fed Announces Keeping Interest Rate Unchanged Xinhua News Agency, New York, October 28 (Reporters Liu Yanan and Xu Jing) The US Federal Reserve concluded its two-day monetary policy meeting on the 28th and announced that the target range for the federal funds rate will remain unchanged at 3.75% to 4%. This decision is in line with the market's broad expectations. The Federal Open Market Committee made this decision in a 10-2 vote, in which Fed Governor Lisa Cook and Cleveland Fed President Beth Hammock advocated continuing to raise interest rates by 25 basis points. The Fed said in a statement that inflation remains high and that gathering more information will help the committee set appropriate monetary policy to ensure that inflation returns to its 2 percent target. The statement said that while uncertainty, including the geopolitical situation, remains high, domestic spending remains resilient, with productivity growth and capital investment strong. New jobs kept pace with labor supply, and the unemployment rate changed very little. Federal Reserve Chairman Warsh said at a press conference on the afternoon of September 28 that since the September interest rate hike, financial and credit conditions for some companies and households have tightened, but overall financial conditions have not reached a strained level, which will help stabilize prices. He also said that no one mentioned the upcoming midterm congressional elections at this monetary policy meeting. Due to the recent increase in inflationary pressure, the Federal Reserve announced a 25 basis point interest rate hike on September 16, the first time the Fed has raised interest rates since late July 2023.