Warsh says politics played no role in Fed's rate decision
Fed Chair Kevin Warsh said politics had no role in the decision to hold rates and that new data will guide a possible December hike, per Reuters.
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what happened
Federal Reserve Chair Kevin Warsh said on Wednesday that he is honored to lead the policymaking group and that politics played no part in the decision to skip a rate hike. He said officials did not discuss politics, elections or the coming vote during their two-day meeting.
According to Reuters, the Fed kept its policy rate in the 3.75%-4.00% range. Warsh said officials will receive a lot of data in the coming weeks that will leave them better placed in December to decide whether to raise rates, and that this information has nothing to do with politics.
The remarks come as the Trump administration keeps pressing for lower rates and criticizes members of the committee. Congressional elections are set for November 3.
why it matters
Warsh's focus on inflation makes a possible December rate hike a key scenario for markets. Expectations of tighter policy typically support the dollar and weigh on long-dated Treasury bonds.
market impact
Dollar and US Treasuries: expectations of a possible rate hike support the dollar and pressure bonds
- US dollar pressure up — expectations of a possible December rate hike make the dollar more attractive
- US Treasuries pressure down — a tighter Fed tone pressures prices of long-dated bonds
tags
instruments
sources
- Warsh says politics played no role in Fed's rate decision by group he is 'honored' to lead — Reuters, 28 October 2026 at 21:32 UTC
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