# Fed left rates unchanged, zero dissent

*Economics. 35% certain. Thursday, 29 October 2026*

> Speculative fiction assembled from prediction-market prices. This has not happened.

**The Federal Reserve kept its policy rate steady while September inflation showed a modest monthly rise.**

The Federal Reserve announced on Wednesday that its target range for the federal funds rate remained unchanged. The vote was unanimous, with zero dissenting members. The decision arrived as recent inflation data indicated a moderation in price pressures.

In September, the Core consumer price index increased 0.3% from the previous month. The headline CPI rose 0.6% on a month-over-month basis. Both figures were released on October 15.

In September, the annual consumer price index measured 3.6%. The figure represented the most recent annual gauge of inflation. It was published on October 15.

M. Eastern time on October 28, following the two-day FOMC meeting that ran October 27-28. The announcement was reported in the news on Thursday, October 29. The vote was unanimous with zero dissent.

The September inflation numbers were released on October 15. Those data were the latest available ahead of the Fed's policy meeting. Their publication preceded the decision by two weeks.

## Analysis

A unanimous vote to keep rates unchanged signals strong consensus among policymakers that current monetary settings are appropriate. With no dissent, the Fed presents a unified front, reducing uncertainty about internal disagreements that could influence future moves.

The latest inflation readings, Core CPI up 0.3%, headline CPI up 0.6% month-over-month, and annual CPI at 3.6%, suggest that price pressures are easing relative to earlier months. Such moderation lowers the urgency for pre-emptive tightening and supports a stance of policy patience.

The gap between expected and actual yield movements can affect bond pricing, portfolio rebalancing, and financing costs for borrowers.

Future policy will depend on whether inflation continues to decline or stalls, and on upcoming data releases. The Fed may still adjust rates later in the year if price dynamics shift, but the current consensus reduces the likelihood of immediate action.

### Background consulted for the analysis

- [The Fed - Meeting calendars and information](https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm)
- [Fed Rate Decision: Wednesday, October 28, 2026 at 2 PM ET | FedRateCalc](https://fedratecalc.com/fed-rate-decision/)
- [FOMC Meeting Schedule October 2026 - Dates & Time](https://fedratecalc.com/fomc-meeting-schedule/october-2026/)
- [Federal Reserve Board - H.15 - Selected Interest Rates (Daily) - October 02, 2026](https://www.federalreserve.gov/releases/h15/)

## What this was built from

- **Fed Decision in October?**: No change, 81%; settles Thursday, 29 October 2026 (polymarket). [Market](https://polymarket.com/event/fed-decision-in-october-20260617190323537)
- **Fed interest rate decision — October 2026**: No change, 81%; settles Wednesday, 28 October 2026 (futuur). [Market](https://futuur.com/q/245727/fed-interest-rate-decision-october-2026)
- **How many dissent at the October Fed meeting?**: 0, 35%; settles Wednesday, 28 October 2026 (polymarket). [Market](https://polymarket.com/event/how-many-dissent-at-the-october-fed-meeting)
- **September Inflation US - Annual**: 3.6%, 44%; settles Thursday, 15 October 2026 (polymarket). [Market](https://polymarket.com/event/september-inflation-us-annual)
- **Core CPI YoY - September 2026**: 2.4%, 36%; settles Thursday, 15 October 2026 (polymarket). [Market](https://polymarket.com/event/core-cpi-yoy-september-2026)
- **September Inflation US - Monthly**: 0.6%, 56%; settles Thursday, 15 October 2026 (polymarket). [Market](https://polymarket.com/event/september-inflation-us-monthly)
- **Core CPI MoM - September 2026**: 0.3%, 65%; settles Thursday, 15 October 2026 (polymarket). [Market](https://polymarket.com/event/core-cpi-mom-september-2026)
- **Will Polymarket be right about every Fed decision in 2026?**: Yes, 71%; settles Wednesday, 28 October 2026 (manifold). [Market](https://manifold.markets/HillaryClinton/will-polymarket-be-right-about-ever)