Wall Street moves past the Fed pause and back to tech earnings and AI

The Fed held rates at 3.75% to 4% with two hawkish dissents, and traders turned straight to earnings season and a revived AI trade The Federal Reserve held interest rates steady on Wednesday. Markets responded with a polite nod and then moved on to more pressing matters. Those matters are tech earnings and a rebound in AI stocks. For investors, the more important number this week may come from a quarterly report rather than from the Fed. A hold, with a hawkish undertone On October 28, 2026, the Federal Open Market Committee voted 10-2 to keep the federal funds rate in a range of 3.75% to 4%. The committee pointed to elevated inflation. It also said it wants more economic data before making any further adjustments. The stated backdrop was upbeat. Policymakers described strong economic expansion, resilient domestic spending, and robust capital investment, while repeating their commitment to bringing inflation back to the 2% target. The dissents are where things got interesting. Governor Lisa D. Cook and Cleveland Fed President Beth M. Hammack both voted against the decision. They wanted a 25-basis-point rate increase. So the disagreement inside the room was not about when to cut. It ...