India, Oct. 29 -- At the Federal Open Market Committee meeting held on October 28, 2026, its benchmark interest rate was kept at 3.75 percent-4 percent, after having risen by 25 basis points in September. The decision was approved by a vote of 10 to 2, the increase being supported by Federal Reserve Governor Lisa Cook and Cleveland Fed President Beth Hammack.

It is interesting that the Fed has raised its evaluation of economic activity from 'solid' in September to 'strong' in October, even though it has admitted that inflation is still high. This leads to a significant question: is the Fed growing more at ease with stronger economic growth since improved productivity, especially that resulting from artificial intelligence, might help re...