Federal Reserve holds interest rates steady

WASHINGTON — The Federal Reserve held interest rates steady Wednesday, as expected, opting to delay changes to borrowing costs until after midterm elections while it awaits further data on inflation, which the central bank said "remains elevated."

The 10-2 decision to maintain the Fed's benchmark interest rate within the 3.75% to 4% range came with an upgraded assessment of an economy that the central bank now says is growing at a "strong pace."

Fed Chairman Kevin Warsh also expressed confidence that inflation can be lowered to the 2% target without having to "throw sand in the gears" and slow growth or raise unemployment.

ALASKA: Aides to Democratic Senate nominee Mary Peltola worked with the campaign's lawyers and senior staff at Senate Democrats' campaign arm to recruit two candidates who could siphon votes from Republican incumbent U.S. Sen. Dan Sullivan on Alaska's ballot, the New York Times reported Wednesday.

EPSTEIN: House Judiciary Committee Democrats urged an independent investigation in a report Monday on President Donald Trump and late sex offender Jeffrey Epstein, which includes a new allegation that Trump raped a beauty pageant contestant in 1993.

CYBERATTACK: The Federal Election Commission restored its electronic filing system Wednesday night after taking it offline for almost 41 hours to contain a cyberattack, which temporarily concealed big donors' spending as political donations ramp up ahead of the midterms. Campaign watchdogs sounded alarms.

Distributed by Newsbank, inc.