US central bank keeps interest rates unchanged in final decision before midterm elections

Bernd Debusmann Jr
White House reporter

Today’s announcement comes just a few days before the US midterm elections, and at a time in which Americans are immensely concerned about the state of the economy.

In most US elections, economic concerns such as inflation are the primary driver for voters, who often cast their ballots in the hopes that, more than anything, their day-to-day financial situation improves.

One poll, released by Pew Research several days ago, found that 84% of registered voters say the the economy is very important to their vote – a fact which is true of both Democrats and Republicans.

Interest rates are set by the Federal Reserve, and raising or lowering them isn’t something that voters have any direct control over.

Borrowing costs, however, remain a primary concern, and the decisions of the next Congress could have an impact on inflation – meaning that the issue may well be on the minds of voters next Tuesday.