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The Federal Reserve held interest rates steady Wednesday, even as inflation data has been worsening – but the central bank is largely expected to issue a quarter-point hike in December.

It approved the hold in a 10-2 vote, as Fed Governors Lisa Cook and Beth Hammack dissented in favor of raising interest rates by a quarter point, instead.

Investors and economists will be closely watching Fed Chair Kevin Warsh’s press conference Wednesday afternoon for any signs that officials are revving up to raise rates a second time this year, after issuing a hike in September for the first time since 2023.

Fed Chair Kevin Warsh (above) held interest rates steady on Wednesday.…