FOMC (Federal Open Market Committee)

Overview

The Federal Reserve's monetary policy committee. Meets 8 times per year to set the federal funds rate target range.

Meeting summary （published 2026-02-18）

At the January 27-28, 2026 meeting, the FOMC held the target range at 3-1/2 to 3-3/4 percent. Ten members voted in favor; Governors Miran and Waller dissented, preferring a 25bp cut. Economic activity was expanding at a solid pace, supported by resilient consumer spending and robust business investment, particularly in technology. Job gains remained low but the unemployment rate showed signs of stabilizing (4.4% in December), and downside employment risks had moderated. Inflation remained somewhat elevated, with core goods inflation boosted by tariffs while core services inflation continued to decline. The Committee continued reserve-management purchases and authorized Treasury bill purchases to maintain ample reserves.

Past meetings

Release history (official values)