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 2026-08-19）

At its July 28-29 meeting, the FOMC voted 9-3 to maintain the target range for the federal funds rate at 3½ to 3¾ percent in support of its dual mandate. Three members—Hammack, Kashkari, and Logan—dissented, preferring to raise the target range by ¼ percentage point. Against a backdrop of solid economic data, developments over the intermeeting period were influenced by the conflict in the Middle East, with oil prices ending higher following escalation of tensions. Near-term inflation compensation declined notably after the June FOMC meeting and moved up only marginally thereafter despite the sharp increase in oil prices. Members noted that the unemployment rate was largely unchanged and that solid growth in economic activity had continued, while inflation remained elevated relative to the Committee's 2 percent goal. The FOMC reaffirmed its policy of maintaining ample reserves in the banking system. Nominal Treasury yields rose, driven largely by expectations of higher policy rates.

Past meetings

Release history (official values)