Federal Reserve holds rates at 3.75%–4% before US midterms
- The Fed kept rates at 3.75%–4%.
- Two officials favoured a quarter-point increase.
- Warsh said the election played no role in the decision.
The Federal Reserve held its benchmark interest rate at 3.75%–4% at its final meeting before the US midterm elections, leaving borrowing costs unchanged despite inflation remaining above its 2% target. The decision followed a September rate rise and leaves open the possibility of further increases as officials assess…