The Federal Reserve left interest rates alone on Wednesday, six days before the midterm elections, even as inflation edges back toward the three-year high it hit in May.

The Federal Open Market Committee voted 10-2 to keep its benchmark rate in a range of 3.75% to 4%. Only Fed Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented. In a statement from the Fed, the two “preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting.”

While Hammack’s vote was expected, Cook’s was not, since previews had named Hammack, Dallas Fed President Lorie Logan, and Minneapolis Fed President Neel Kashkari as the likeliest dissenters.

Read more [paywall removed for Redditors]: https://fortune.com/2026/10/28/fed-rates-steady-midterms-october-3-75-to-4-percent-cook-hammack-dissent/?utm_source=reddit/

Never before has a company gone public with anywhere near this amount of cash.

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Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

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Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

Robin Wigglesworth’s A Fabulous Debt is a lively history of the bond market that too often assumes its subject needs defending.

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Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome.

Replies are expected to be constructive and civil.

Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome.

Replies are expected to be constructive and civil.

Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome.

Replies are expected to be constructive and civil.

Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

William Cohan chronicles the private equity giant’s colorful past. But its push into the savings of the upper middle class makes its future more consequential.