Navy Federal Credit Union chief economist Heather Long discusses the Federal Reserve's upcoming interest rate decisions. This story will be updated with further details from the Fed's October 2026 interest rate decision. The Federal Reserve on Wednesday held its benchmark interest rate steady amid elevated inflation as policymakers opted to wait for additional economic data after hiking rates in September. Fed policymakers voted 10-2 to leave the federal funds rate at its target range of 3.75% to 4%. The move follows a 25-basis-point rate hike in September, which was the central bank's first interest rate increase since July 2023.
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