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 2026-07-08）

At the June 16-17 FOMC meeting, the Committee conducted its policy decision under the new chairmanship of Kevin Warsh. The Committee unanimously voted to maintain the target range for the federal funds rate at 3½ to 3¾ percent in support of the dual mandate. Participants judged that economic activity was expanding at a solid pace with strong productivity growth and capital investment, while inflation had increased further and remained well above the Committee's 2 percent objective, reflecting supply shocks including tariff effects and energy price increases. The labor market remained stable with job gains keeping pace with workforce growth and the unemployment rate changing little. Regarding appropriate monetary policy, many participants indicated that the federal funds rate would be within or slightly below the current range at year-end, while many others assessed it would be above the current range. Participants noted future actions would depend on incoming information. The statement language was shortened and removed previous easing bias language.

Past meetings

Release history (official values)