Beth M. Hammack

Money Moves

Dissented in favor of a quarter-point hike on Oct. 28

The Federal Reserve held its benchmark rate at 3.75% to 4% on Oct. 28, a pause after September's quarter-point increase, the first hike since 2023. A stronger-than-expected October jobs report on Nov. 6 pushed traders to price about an 80% chance of another quarter-point increase at the Dec. 8-9 meeting, up from roughly 67% a day earlier.

Updated Yesterday

Rule Changes

As of May 2026: New FOMC voting member in 2026, viewed as inflation hawk

The Federal Reserve held rates steady at 3.5-3.75% on January 28, 2026, in a 10-2 vote. Governors Stephen Miran and Christopher Waller both dissented for a 25-basis-point cut — the first time two sitting governors have dissented together in decades.

Updated May 18