US Fed Meeting LIVE: The US Federal Reserve is expected to leave interest rates unchanged on Wednesday, October 28, as policymakers assess persistent inflationary pressures, rising oil prices and the approaching US midterm elections. The anticipated pause comes after the central bank raised interest rates in September for the first time in more than three years. The Federal Open Market Committee (FOMC) unanimously approved a 25-basis-point increase at its previous meeting, bringing the target interest rate range to 3.75%-4.00%.
The Fed’s policy announcement will be followed by interest rate decisions from the European Central Bank and the Bank of Japan later this week, keeping global markets focused on the direction of monetary policy.
US Fed meeting date and time
The Federal Reserve’s two-day meeting commenced on October 27, 2026, and is scheduled to end on October 28. The 12-member committee will announce its interest rate decision at 11:30 PM IST (2:00 PM ET).
Fed Chair Kevin Warsh is expected to address the media shortly after the announcement. His press conference is scheduled to begin at approximately 12:00 AM IST (2:30 PM ET), giving Indian viewers an opportunity to follow the central bank’s assessment of the economy and its policy outlook.
US Fed rate in focus
After maintaining an extended pause, the US central bank raised interest rates by 25 basis points in September 2026. This was its first rate increase since 2023 and the first under Fed Chair Kevin Warsh.
Despite persistent inflation, supported by elevated energy and grocery prices, markets anticipate that policymakers will keep borrowing costs unchanged at Wednesday’s meeting. The approaching US midterm elections, which are just six days away, have also contributed to expectations of a pause, as central banks generally avoid significant policy changes immediately before an election.
More rate hikes ahead?
However, the prospect of another rate increase has not disappeared. Economists believe the Fed could tighten monetary policy again in December if economic indicators continue to show stronger-than-expected conditions.
According to the CME Group’s FedWatch Tool, traders are pricing in an 83% probability of a US interest rate hike in December. For this week’s meeting, futures markets indicate a nearly 90% probability that the Fed will maintain its existing federal funds rate range of 3.75%-4.00%.
Meanwhile, September’s inflation figures came in higher than expected, adding to the challenges facing the Federal Reserve as it considers its next policy move.
Impact on Indian Markets
The market is likely to remain cautious ahead of the US Federal Reserve’s policy decision, with investors closely tracking the inflation outlook and signals on the future trajectory of interest rates. The expectation is that the Fed will keep rates unchanged in October, but the key focus will be on its commentary and the possibility of further tightening in December. Persistent inflation and elevated energy prices could limit the scope for monetary easing.
Check key updates from US Federal Reserve meeting here
