The Federal Reserve, on Wednesday, held interest rates steady in 3.75%-4.00% range. The US Fed opted to delay any changes to borrowing costs until after next week's US midterm elections and awaiting further data on the path of inflation.The US Federal Reserve decision has come even as inflation has surged over the past few months amid crude oil price rally due to geopolitical uncertainty. The Fed’s latest policy meeting concludes less than a week before the midterm elections, which have focused heavily on concerns about the cost of living and affordability.The US Fed raised its key rate in September, for the first time in three years.