The FOMC maintained the federal funds target range at 3.50-3.75 percent on 29 July 2026, the fifth consecutive hold, on a 9-3 vote.
Resolution follows the FOMC statement published at federalreserve.gov at 2pm ET on 29 July 2026; the target range for the federal funds rate is the source of truth. A hike dissent counts only if recorded in the official vote tally of the 29 July statement. "Hike 25bp" resolves on any upward move of at least 25 basis points to the target range.
Four of the five chairs before him raised rates within two meetings. We looked at every new Fed chair since 1979 who took over while prices were rising and the next step on rates was open. Kevin Warsh is the sixth. Of the five before him, only Janet Yellen waited.