Federal Reserve holds rates steady, but 'hawk talk persists' after 10-2 split vote

The Federal Reserve's Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 3.75%–4.00%, pausing after a quarter-point increase in September. Despite the hold, the decision was not unanimous, with a 10-2 split vote as two members dissented in favor of a 25-basis-point rate increase. Fed Chair Kevin Warsh's post-meeting remarks acknowledged strong economic activity and elevated inflation, signaling that further tightening remains a possibility.