Fed Holds Rates Steady Despite ‘Elevated’ Inflation
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Follow live coverage of the Federal Reserve's October meeting, interest-rate decision, and Chair Kevin Warsh's press conference today.
The 12-month rate of inflation as of August 2026 is 3.7%, according to the Bureau of Labor Statistics (BLS). Energy inflation spiked to 20.4% as the status of the Strait of Hormuz remains uncertain. Core inflation, which excludes energy and food, was 2.6%.
The Bank of Canada raised its target for the overnight rate by 25 basis points to 2.5% on Wednesday, citing higher and more persistent inflation driven by elevated energy prices. The Bank Rate now stands at 2.
