The Federal Reserve kept its target range at 3.75% to 4.00% on October 28, 2026, pausing six weeks after its September hike.

Two officials, Governor Lisa Cook and Cleveland Fed President Beth Hammack, dissented in favor of another quarter-point increase.

Markets now see a December hike as likely: CME FedWatch priced an 85.0% chance after the close, up from 78.3% a day earlier, Reuters reported.

The S&P 500 rose 0.28% and the Nasdaq Composite 0.27%, and on MEXC the bigger moves in QQQ and SPY contracts came after the closing bell, when Microsoft and Alphabet reported.

Key Takeaways

● Decision: The FOMC held the federal funds rate at 3.75%–4.00% by a 10–2 vote, with Cook and Hammack preferring a 25-basis-point hike.

● Statement: Growth was upgraded to a “strong pace,” and the Fed said it will wait for more information before deciding its next move.

● December: Chair Kevin Warsh did not commit to a hike, but futures moved toward one, with odds rising to 85.0%.

● Meeting schedule: Warsh said one 2027…