# Fed holds at 3.75%–4% in 10-2 vote; Cook, Hammack dissent for a hike

Quick Take · News · Published October 28, 2026 · By [Anthony Asuaje](https://walkeranthony.com/about/), Walker Strategies
Canonical URL: https://walkeranthony.com/news/fed-holds-at-3-75-4-in-10-2-vote-cook-hammack-dissent-for-a-hike/

3.75%–4%: Fed holds rates in 10-2 vote as Cook and Hammack push for a hike; markets still price a December increase.

## Key takeaways

- Two hawkish dissents keep a December hike firmly in play, sustaining a higher-for-longer path for US yields and the dollar, a headwind for EM borrowers.

## Key numbers

- Watch: CPI prints and post-midterm Fed tone ahead of December.

Fed holds at 3.75%–4%; vote 10-2, with Cook and Hammack backing a 25bp hike.
Hawkish split, but statement offers no clear December signal; stocks flat.
Watch: CPI prints and post-midterm Fed tone ahead of December.

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