(3rd LD) Fed holds key interest rate steady; Warsh says inflation 'too high'

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(ATTN: UPDATES with comments on South Korea at bottom) By Chang Dong-woo

WASHINGTON, Oct. 28 (Yonhap) -- The U.S. Federal Reserve on Wednesday held its benchmark interest rate steady, following the central bank's quarter percentage point hike last month, while noting that inflation remains high and needs to be kept in check.

During the two-day Federal Open Market Committee (FOMC) meeting, the Fed decided to maintain the rate at the 3.75-4.00 percent range in a 10-2 vote. "The Committee is continuing its policy of maintaining ample reserves in the banking system," the Fed said in a statement.

Last month, the Fed raised its benchmark interest rate by a quarter percentage point in its first hike since July 2023, while signaling the possibility of another increase later this year amid persistent inflation and high oil prices.

The Fed's decision left the gap between the key interest rates of South Korea and the U.S. at up to 1 percentage point.

The decision was in line with overall market expectations.

Global bond investment manager Pacific Investment Management Co. (PIMCO) projected last week that the Fed would hold rates steady in its October meeting before delivering another quarter-point increase in December.

"Economic activity is expanding at a strong pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little," the Fed said.

Fed Chair Kevin Warsh noted, however, that inflation remained "too high."

"Energy and related prices have moved higher again in recent weeks, and our job is to ensure that relative price changes in some sectors do not broaden out across the economy," Warsh told a press briefing.

"It's our responsibility to get inflation down," Warsh said, explaining that the FOMC discussions over the past few days focused on price stability.

This photo, released by the Associated Press, shows U.S. Federal Reserve Chairman Kevin Warsh holding a press conference at the U.S. Federal Reserve in Washington on Oct. 28, 2026. (PHOTO NOT FOR SALE) (Yonhap)

Warsh added that the accumulation of more information and data will help the FOMC determine the policy stance appropriate to ensure inflation returns to its 2 percent goal in a timely manner.

The Fed chief also announced a change to the schedule of FOMC meetings next year, with plans to hold rate-setting votes at seven out of eight meetings next year.

"We believe eight meetings per year is the right number for the FOMC, but in 2027, one meeting will focus exclusively on broad monetary policy strategy, with neither a vote on the federal funds rate nor a policy statement anticipated," Warsh said, while projecting that the number of rate-setting meetings would be reduced to six in 2028.

Warsh also expressed interest in the South Korean economy, citing the country's role in supplying key components for the ongoing technology boom.

"I would say I paid probably more attention to the Korean economy than you might think because when I'm looking at the feedstocks effectively for this new surge in technology, a lot of it's coming from Japan and Korea, some from Singapore," he said.

"So I'm particularly interested in what's happening in the Korean economy, usually because it's telling me what's on planes and ships coming this way," he added.

He also praised Bank of Korea (BOK) Gov. Shin Hyun-song, describing the South Korean central bank chief as a longtime friend whom he first met around the time of the global financial crisis. "I've known (Shin) for 20 years, and (he) is a very talented guy and a good friend. So I'm glad he's in that post," he said.

odissy@yna.co.kr (END)

(3rd LD) Fed holds key interest rate steady; Warsh says inflation 'too high'

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（注意：文末有关于韩国的更新评论）作者：张东宇

华盛顿，10月28日（韩联社）——美国联邦储备委员会周三维持基准利率不变，此前该央行上月加息25个百分点，同时指出通胀仍然很高，需要加以控制。

在为期两天的联邦公开市场委员会（FOMC）会议上，美联储以10比2的投票结果决定将利率维持在3.75%-4.00%的区间。美联储在一份声明中表示：“委员会将继续执行其在银行体系中维持充足储备的政策。”

上个月，美联储将基准利率上调了0.25个百分点，这是自2023年7月以来的首次加息，同时暗示在持续的通胀和高油价的背景下，今年晚些时候可能再次加息。

美联储的决定使得韩国和美国的关键利率之间的差距扩大到1个百分点。

这一决定符合整体市场预期。

全球债券投资管理公司太平洋投资管理公司（PIMCO）上周预测，美联储将在10月份的会议上维持利率不变，然后在12月份再次加息25个基点。

美联储表示：“经济活动正以强劲的速度扩张。尽管地缘政治发展等因素导致不确定性依然较高，但国内支出依然保持韧性。生产率增长强劲，资本投资也十分活跃。就业增长与劳动力增长保持同步，失业率变化不大。”

美联储主席凯文·沃什指出，通胀仍然“过高”。

沃什在新闻发布会上表示：“近几周来，能源及相关价格再次上涨，我们的工作是确保某些行业的相对价格变化不会蔓延到整个经济领域。”

沃什表示：“降低通胀是我们的责任。”他解释说，过去几天联邦公开市场委员会的讨论重点是价格稳定。

这张由美联社发布的照片​​显示，美国联邦储备委员会主席凯文·沃什于2026年10月28日在华盛顿联邦储备银行举行新闻发布会。（照片不得出售）（韩联社）

沃什补充说，更多信息和数据的积累将有助于联邦公开市场委员会确定适当的政策立场，以确保通胀及时恢复到 2% 的目标。

美联储主席还宣布了明年联邦公开市场委员会（FOMC）会议日程的调整，计划在明年八次会议中的七次会议上进行利率决策投票。

沃什表示：“我们认为联邦公开市场委员会每年召开八次会议是合适的次数，但在 2027 年，其中一次会议将专门讨论广泛的货币政策策略，预计不会对联邦基金利率进行投票，也不会发表政策声明。”他还预测，到 2028 年，利率制定会议的次数将减少到六次。

沃什还对韩国经济表示了兴趣，并指出韩国在为当前的技术繁荣提供关键零部件方面发挥着重要作用。

“我认为我可能比你想象的更关注韩国经济，因为当我考察这项新技术的原料时，很多原料来自日本和韩国，还有一些来自新加坡，”他说。

“所以我特别关注韩国经济的动态，因为这通常会告诉我哪些货物正通过飞机或轮船运往这里，”他补充道。

他还赞扬了韩国央行行长申铉松，称这位韩国央行行长是他的老朋友，两人相识于全球金融危机前后。“我认识申铉松20年了，他是一位非常有才华的人，也是我的好朋友。所以我很高兴他能担任这个职位。”他说。

odissy@yna.co.kr (完)

（第三条）美联储维持关键利率不变；沃什称通胀“过高”