Fed Holds Rates Steady in July 2026
한국어 English
The Federal Open Market Committee kept the federal funds rate target at 3.50–3.75% on July 29, 2026. The vote split 9–3, and notably the three dissenters preferred a 0.25 percentage point increase — not a cut. Inflation remaining above the 2% goal was cited as the backdrop.
Verified facts
- The FOMC kept the target range for the federal funds rate at 3.50–3.75% on July 29, 2026, as recorded in the official statement and consistent with the June meeting minutes.
Reported, not confirmed
Statements from a single source, or where sources disagree- The July decision passed on a 9–3 vote, with Beth Hammack, Neel Kashkari and Lorie Logan dissenting, per the Federal Reserve's official statement (single source).
- The three dissenters preferred raising the target range by 0.25 percentage point rather than cutting it, per the official statement (single source).
- At the June 16–17 meeting, all members agreed to maintain the same target range, per the official minutes (single source).
- The statement assessed inflation as still elevated relative to the Committee's 2 percent goal, partly reflecting supply shocks in sectors including energy (single source).
Timeline
- June 16–17, 2026FOMC meeting — target range held at 3.50–3.75%, agreed by all members.
- July 29, 2026FOMC holds the range at 3.50–3.75% on a 9–3 vote; the three dissenters preferred a 0.25 pp increase.
- September 15–16, 2026 (scheduled)Next FOMC meeting, accompanied by a Summary of Economic Projections.
Frequently asked
What is the current rate?
A target range of 3.50–3.75%. The Fed sets a range rather than a single number, and the range was held at both the June and July 2026 meetings.
Did the dissenters want a rate cut?
No. According to the official statement the three preferred a 0.25 percentage point increase. Inflation running above the 2% goal was the stated backdrop. A vote against holding is not the same as arguing for a cut — a point that is often misread.
When is the next meeting?
September 15–16, 2026, which also carries a Summary of Economic Projections. This page does not forecast the outcome.
Sources
Source titles are kept in their original language- 1 Federal Reserve issues FOMC statement (July 29, 2026) primary
- 2 Minutes of the Federal Open Market Committee, June 16-17, 2026 primary
- 3 FOMC 회의 일정 primary
Official links
- official 미국 연방준비제도(Federal Reserve)
- doc FOMC 성명 원문 (2026-07-29)
This English edition covers the verified facts and sourced claims. The full document — with sentence-level source references, timeline, FAQ and the complete revision history — is maintained in the Korean edition.