Fed holds rates, but two officials push for hike as Polymarket odds hit 82% - scanx.trade

*this image is generated using AI for illustrative purposes only. The Federal Reserve held its benchmark interest rate steady at 3.75%-4.00% on Wednesday, October 28, 2026, in line with market expectations. The decision came with a 10-2 vote, as Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favor of a 25 bps hike. It was Cook’s first dissent since joining the Fed in 2022, coming as President Donald Trump has repeatedly sought to remove her from office. The central bank stated that "inflation remains elevated" while economic activity is expanding at a “strong” pace. The FOMC noted that the accumulation of more information will help determine the appropriate policy stance to ensure a timely return of inflation to the 2% goal.