{
  "id": 16652720,
  "title": "Is the Federal Reserve likely to raise interest rates this week?",
  "url": "https://urgent.news/2026/10/26/is-the-federal-reserve-likely-to-raise-interest-rates-this-week",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-26T20:10:30.000Z",
  "source": {
    "name": "CBS News",
    "slug": "cbs-news",
    "url": "https://www.cbsnews.com/news/federal-reserve-interest-rates-october-meeting/"
  },
  "original_language": "en",
  "account": "The Federal Reserve is set to meet this week to determine whether to increase interest rates for the second time in 2023, aiming to curb inflation. Economists and analysts anticipate the central bank will maintain its benchmark rate at 3.75% to 4% during a press release on Wednesday. Inflation has escalated throughout the year, with the U.S. experiencing a 3.7% annual increase in September due to surging energy costs. Core inflation, excluding volatile energy and gas prices, rose 2.6% year-over-year. The Fed's inflation target stands at 2%. Gasoline prices, averaging over $4 per gallon for the past three months, contributed over half of the September price surge, according to the Labor Department. While the recent inflation data and expectations may worry Fed officials, they seem inclined to gradually tighten policy. Thomas Ryan, a senior North America economist at Capital Economics, noted that the Fed is expected to maintain a measured pace of tightening. The latest interest rate decision will be announced at 2 p.m. ET on Wednesday. This meeting is timely, as Americans vote in midterm elections on November 3, expressing irritation with the economy's state, dealing with rising costs of gas, food, utilities, and other expenses. Most economists and investors believe the Fed will raise rates once more before year-end, most likely at their final meeting in December. According to the CME Group's Fed Watch tool, traders view an 88% chance of the Fed maintaining rates steady in October and a 71% chance of a rate increase in December, with no meeting scheduled for November. In late August, the Fed's rate-setting committee projected rate hikes later in the year. However, some Fed policymakers have indicated the central bank is not eager to raise borrowing costs. Following the September rate hike, New York Fed President John Williams stated that the Fed's policy action does not necessitate urgency and allows time to gather more information. Fed Chairman Kevin Warsh will provide a press conference after the upcoming rate decision, but until then, investors are unlikely to receive any insights from Warsh, who has opposed sharing forward guidance on rate decisions.",
  "summary": "Fed officials will unveil their latest interest rate move this week, following the September rate hike, the first in three years.",
  "key_points": [
    "Federal Reserve set to meet this week on interest rates",
    "Anticipated to maintain benchmark rate at 3.75% to 4%",
    "Inflation at 3.7% annual increase, core inflation at 2.6%"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Ajel English",
        "title": "US Federal Reserve expected to hold rates despite rising inflation in September",
        "url": "https://urgent.news/2026/10/26/us-federal-reserve-expected-to-hold-rates-despite-rising-inflation-in",
        "published": "2026-10-26T11:48:35.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}