Fed Holds Fed Funds Range at 3-3/4 to 4% After September Hike

The Federal Reserve held its federal funds target range at 3-3/4 to 4 percent on 28 October 2026, following a quarter-point (0.25 percentage point) increase in September. The fed funds rate is the overnight rate banks charge each other. Short-term deposit and money market yields are unlikely to reprice sharply in the near term.