Day October 29, 2026

Budget, Personal Loans

Fed Holds Prime Rate at 7.00% as Cook and Hammack Dissent for a Hike

Empty formal government boardroom with a long polished dark wood oval conference table surrounded by high backed black leather chairs, two chairs at the right pushed back and angled away from the table while the rest sit squarely, a tall plain window at the far wall casting flat overcast afternoon light across cream walls and navy carpet

The Federal Open Market Committee held its target range at 3.75% to 4.00% on October 28, 2026, keeping the prime rate at 7.00%. Cook and Hammack dissented for a quarter point hike.

Laura Adams
October 29, 2026